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 unità a $10,00 ciascuna, per un totale di $150.000.000. Le unità saranno quotate su Nasdaq con il simbolo TDACU. Ogni unità comprende una azione ordinaria di Classe A e metà 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 unità aggiuntive. Le contrattazioni inizieranno il 23 dicembre 2024, con chiusura prevista per il 24 dicembre 2024. L'azienda è una società di assegno in bianco che cerca opportunità 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 pública inicial de 15,000,000 unidades a $10.00 cada una, totalizando $150,000,000. Las unidades se cotizarán en Nasdaq bajo el símbolo TDACU. Cada unidad consta de una acción ordinaria de Clase A y medio warrant reembolsable, con warrants enteros que permiten la compra de una acción de Clase A a $11.50.
La compañía ha concedido a los suscriptores una opción de 45 días para comprar hasta 2,250,000 unidades adicionales. Las negociaciones comenzarán el 23 de diciembre de 2024, con un cierre previsto para el 24 de diciembre de 2024. La empresa es una compañía de cheque en blanco que busca oportunidades de combinación empresarial, liderada por el CEO Michael B. Hoffman y el CFO Avanindra C. Das, con BTIG como único administrador de libros.
Translational Development Acquisition Corp는 1,500만 개의 유닛에 대한 상장 공모 가격을 각각 10.00달러로 설정하여 총 1억 5천만 달러에 달한다고 발표했습니다. 유닛은 Nasdaq에서 TDACU라는 기호로 거래될 것입니다. 각 유닛은 A 클래스 보통주 1주와 반 개의 환매 권리로 구성되며, 전체 권리를 통해 11.50달러에 A 클래스 주식을 구매할 수 있습니다.
회사는 인수인에게 추가로 225만 개의 유닛을 구매할 수 있는 45일 옵션을 부여했습니다. 거래는 2024년 12월 23일에 시작되며, 2024년 12월 24일에 종료될 예정입니다. 이 회사는 비즈니스 조합 기회를 찾는 빈 수표 회사로, CEO Michael B. Hoffman과 CFO Avanindra C. Das가 이끌며, BTIG가 단독 북 운영 관리자 역할을 합니다.
Translational Development Acquisition Corp a annoncé le prix de son offre publique initiale de 15 000 000 d'unités à 10,00 $ chacune, totalisant 150 000 000 $. Les unités seront cotées sur le Nasdaq sous le symbole TDACU. Chaque unité se compose d'une action ordinaire de Classe A et d'une demi-option rachetable, les options entières permettant l'achat d'une action de Classe A à 11,50 $.
L'entreprise a accordé aux souscripteurs une option de 45 jours pour acheter jusqu'à 2 250 000 unités supplémentaires. La négociation commencera le 23 décembre 2024, avec une clôture prévue pour le 24 décembre 2024. L'entreprise est une société de chèque en blanc à la recherche d'opportunités de combinaison d'entreprises, dirigée 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 Börseneinführung 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 einlösbaren Warrants, wobei die gesamten Warrants den Kauf einer Stammaktie der Klasse A zu 11,50 $ ermöglichen.
Das Unternehmen hat den Underwritern eine 45-tägige Option gewährt, bis zu 2.250.000 zusätzliche Einheiten zu kaufen. Der Handel beginnt am 23. Dezember 2024, der Abschluss wird für den 24. Dezember 2024 erwartet. Das Unternehmen ist ein Blankoscheck-Unternehmen, das nach Geschäftskombinationsmöglichkeiten sucht, geleitet von CEO Michael B. Hoffman und CFO Avanindra C. Das, mit BTIG als alleinigem Buchführungsmann.
- 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, 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.
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