NEW
YORK, Dec. 23, 2024 /PRNewswire/ --
Translational Development Acquisition Corp. (the "Company")
announced today the pricing of its initial public offering of
15,000,000 units at a price of $10.00
per unit. The units are expected to be listed on The Nasdaq Stock
Market LLC ("Nasdaq") and begin trading today, December 23, 2024, under the ticker symbol
"TDACU." Each unit consists of one Class A ordinary share and
one-half of one redeemable warrant, with each whole warrant
entitling the holder thereof to purchase one Class A ordinary share
at a price of $11.50 per share,
subject to certain adjustments. No fractional warrants will be
issued upon separation of the units and only whole warrants will
trade. Once the securities constituting the units begin separate
trading, the Class A ordinary shares and warrants are expected to
be listed on Nasdaq under the symbols "TDAC" and "TDACW,"
respectively. The offering is expected to close on December 24, 2024, subject to customary closing
conditions. The Company has granted the underwriters a 45-day
option to purchase up to an additional 2,250,000 units at the
initial public offering price to cover over-allotments, if any.
The Company is a blank check company formed for the purpose of
effecting a merger, amalgamation, share exchange, asset
acquisition, share purchase, reorganization or similar business
combination with one or more businesses. The Company may pursue an
acquisition opportunity in any business, industry, sector, or
geographical location, and intends to focus on industries that
complement its management team's background, and intends to
capitalize on the ability of its management team to identify and
acquire a business.
The Company's management team is led by Michael B. Hoffman, its Chief Executive Officer
and Chairman of the Board of Directors of the Company (the "Board")
and Avanindra C. Das, Chief
Financial Officer. In addition, the Board includes E. Premkumar Reddy, Curtis
T. Keith, Matthew A.
Kestenbaum and Christopher
Jarratt.
BTIG, LLC is acting as sole book-running manager for the
offering.
The offering is being made only by means of a prospectus. When
available, copies of the prospectus may be obtained from BTIG, LLC,
65 East 55th Street, New York, New
York 10022, or by email at ProspectusDelivery@btig.com or by
accessing the SEC's website, www.sec.gov.
A registration statement relating to the securities has been
filed with the U.S. Securities and Exchange Commission (the "SEC")
and became effective on December 20,
2024. This press release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any state or jurisdiction in which such
an offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the
proposed initial public offering and search for an initial business
combination. No assurance can be given that the offering discussed
above will be completed on the terms described, or at all, or that
the net proceeds will be used as indicated.
Forward-looking statements are subject to numerous conditions,
many of which are beyond the control of the Company, including
those set forth in the "Risk Factors" section of the Company's
registration statement and prospectus for the Company's initial
public offering filed with the SEC. Copies of these documents are
available on the SEC's website, www.sec.gov. The Company undertakes
no obligation to update these statements for revisions or changes
after the date of this release, except as required by law.
Investor Contacts
Translational Development Acquisition Corp.
Avanindra C. Das, Chief Financial
Officer
avi@translational-development.com
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SOURCE Translational Development Acquisition Corp.