Translational Development Acquisition Corp. Announces the Pricing of $150,000,000 Initial Public Offering
Translational Development Acquisition Corp has announced the pricing of its initial public offering of 15,000,000 units at $10.00 per unit, totaling $150,000,000. The units will trade on Nasdaq under symbol TDACU. Each unit comprises one Class A ordinary share and one-half redeemable warrant, with whole warrants allowing purchase of one Class A share at $11.50.
The company has granted underwriters a 45-day option to purchase up to 2,250,000 additional units. Trading begins December 23, 2024, with closing expected December 24, 2024. The company is a blank check company seeking business combination opportunities, led by CEO Michael B. Hoffman and CFO Avanindra C. Das, with BTIG, as sole book-running manager.
Translational Development Acquisition Corp ha annunciato il prezzo della sua offerta pubblica iniziale di 15.000.000 di unit脿 a $10,00 ciascuna, per un totale di $150.000.000. Le unit脿 saranno quotate su Nasdaq con il simbolo TDACU. Ogni unit脿 comprende una azione ordinaria di Classe A e met脿 di un warrant rimborsabile, con i warrant interi che consentono l'acquisto di un'azione di Classe A a $11,50.
L'azienda ha concesso ai sottoscrittori un'opzione di 45 giorni per acquistare fino a 2.250.000 unit脿 aggiuntive. Le contrattazioni inizieranno il 23 dicembre 2024, con chiusura prevista per il 24 dicembre 2024. L'azienda 猫 una societ脿 di assegno in bianco che cerca opportunit脿 di fusione aziendale, guidata dal CEO Michael B. Hoffman e dal CFO Avanindra C. Das, con BTIG come unico gestore dell'emissione.
Translational Development Acquisition Corp ha anunciado el precio de su oferta p煤blica inicial de 15,000,000 unidades a $10.00 cada una, totalizando $150,000,000. Las unidades se cotizar谩n en Nasdaq bajo el s铆mbolo TDACU. Cada unidad consta de una acci贸n ordinaria de Clase A y medio warrant reembolsable, con warrants enteros que permiten la compra de una acci贸n de Clase A a $11.50.
La compa帽铆a ha concedido a los suscriptores una opci贸n de 45 d铆as para comprar hasta 2,250,000 unidades adicionales. Las negociaciones comenzar谩n el 23 de diciembre de 2024, con un cierre previsto para el 24 de diciembre de 2024. La empresa es una compa帽铆a de cheque en blanco que busca oportunidades de combinaci贸n empresarial, liderada por el CEO Michael B. Hoffman y el CFO Avanindra C. Das, con BTIG como 煤nico administrador de libros.
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Translational Development Acquisition Corp a annonc茅 le prix de son offre publique initiale de 15 000 000 d'unit茅s 脿 10,00 $ chacune, totalisant 150 000 000 $. Les unit茅s seront cot茅es sur le Nasdaq sous le symbole TDACU. Chaque unit茅 se compose d'une action ordinaire de Classe A et d'une demi-option rachetable, les options enti猫res permettant l'achat d'une action de Classe A 脿 11,50 $.
L'entreprise a accord茅 aux souscripteurs une option de 45 jours pour acheter jusqu'脿 2 250 000 unit茅s suppl茅mentaires. La n茅gociation commencera le 23 d茅cembre 2024, avec une cl么ture pr茅vue pour le 24 d茅cembre 2024. L'entreprise est une soci茅t茅 de ch猫que en blanc 脿 la recherche d'opportunit茅s de combinaison d'entreprises, dirig茅e par le PDG Michael B. Hoffman et le directeur financier Avanindra C. Das, avec BTIG comme seul gestionnaire de livres.
Translational Development Acquisition Corp hat den Preis ihrer 叠枚谤蝉别苍别颈苍蹿眉丑谤耻苍驳 von 15.000.000 Einheiten zu je 10,00 $ bekannt gegeben, was insgesamt 150.000.000 $ ergibt. Die Einheiten werden an der Nasdaq unter dem Symbol TDACU gehandelt. Jede Einheit besteht aus einer Stammaktie der Klasse A und einer halben einl枚sbaren Warrants, wobei die gesamten Warrants den Kauf einer Stammaktie der Klasse A zu 11,50 $ erm枚glichen.
Das Unternehmen hat den Underwritern eine 45-t盲gige Option gew盲hrt, bis zu 2.250.000 zus盲tzliche Einheiten zu kaufen. Der Handel beginnt am 23. Dezember 2024, der Abschluss wird f眉r den 24. Dezember 2024 erwartet. Das Unternehmen ist ein Blankoscheck-Unternehmen, das nach Gesch盲ftskombinationsm枚glichkeiten sucht, geleitet von CEO Michael B. Hoffman und CFO Avanindra C. Das, mit BTIG als alleinigem Buchf眉hrungsmann.
- IPO raises substantial capital of $150 million
- Listing on major exchange (Nasdaq)
- Additional potential capital of $22.5 million through over-allotment option
- Experienced management team with industry background
- Blank check company with no current operating business
- No specific target business identified yet
- Warrant dilution potential at $11.50 exercise price
Insights
This IPO represents a significant SPAC (Special Purpose Acquisition Company) launch, raising
The timing of this SPAC launch is particularly noteworthy as it comes during a period of renewed interest in SPAC vehicles after a significant cooling period in 2022-2023. BTIG's involvement as sole book-runner adds credibility, given their strong track record in SPAC offerings. For investors, the typical 24-month timeline to complete a business combination provides a relatively low-risk investment opportunity with potential upside through warrant participation.
In simple terms: Think of this as a
The structure of this SPAC offering demonstrates careful market positioning with its
Notable is the management team's composition, combining expertise from both financial and scientific backgrounds. This hybrid approach positions the SPAC well for evaluating complex opportunities in regulated industries. The immediate trading on Nasdaq under TDACU provides essential liquidity for institutional investors, with the planned separation into TDAC shares and TDACW warrants offering flexibility in position management.
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,
A registration statement relating to the securities has been filed with the
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, . 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.
FAQ
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