Translational Development Acquisition Corp. reported the successful completion of their initial public offering (IPO) on December 24, 2024. In the IPO, they issued 17,250,000 units, including the full exercise of the underwriter's over-allotment option. Each unit was sold at $10.00, with each consisting of one Class A ordinary share and one-half of a redeemable warrant. Each whole warrant allows purchasing one Class A ordinary share at $11.50. The IPO generated $172,500,000 in gross proceeds. Alongside the IPO, the company also completed a private sale of 7,075,000 warrants, resulting in additional proceeds of $7,075,000. Cumulatively, the net proceeds totaling $174,225,000 were placed in a trust account with Continental Stock Transfer & Trust Company acting as trustee. An audited balance sheet reflecting the proceeds was issued and included in their financial statements. The filing was signed by Michael B. Hoffman, the Chief Executive Officer of the company.
Proper Names: - Translational Development Acquisition Corp. - TDAC Partners LLC - Continental Stock Transfer & Trust Company - Michael B. Hoffman