Translational Development Acquisition Corp.
06/23/2026 | Press release | Distributed by Public on 06/23/2026 08:19
TDAC Announces Very Successful Share Redemption Results in Connection with Extension Vote (Form 8-K)
TDAC Announces Very Successful Share Redemption Results in Connection with Extension Vote
| · | 85% of Shares are not Redeemed, resulting in TDAC maintaining $156.8mm in trust |
| · | 95% of the Shares Voted Were In Favor of the Extension |
| · | These Great Results Follow the Momentum of the May 27, 2026 announcement of TDAC's Entry into a Merger Agreement with Prologium |
| · | Prologium is a global leader in next generation lithium ceramic battery technology, moving into growth markets, including AI Data Centers, aerospace, robotics, defense and electric vehicles |
NEW YORK, NY - June 22,2026 - Translational Development Acquisition Company (NYSE: TDAC) (the "Company" or "TDAC") announced the very successful results of the shareholder vote held on 6/17/26 regarding the proposed extension of the SPAC life and election of shareholders to redeem their shares or continue to participate in TDAC.
In connection with the meeting, holders of the Company's Class A common stock were given the opportunity to redeem their shares for a pro-rata portion of the Company's trust account. Based on the final tabulation, public shareholders elected to redeem 2,598,697 shares of Class A common stock, meaning that holders of 14,651,303 shares of redeemable Class A common stock elected to continue to hold their shares.
Following these redemptions, approximately $156.8mm remains in the Company's trust account.
Michael Hoffman, Chairman and CEO of TDAC, commented, "The strong interest shown of 85% of TDAC's shareholders of not redeeming their shares illustrates the excitement we all have around the announced deal with ProLogium. The company is the global leader in next-generation lithium ceramic battery technology , with a gigascale plant in Taiwan and a gigawatt plant in France under construction with an announced total potential subsidy package of up to €1.375 billion from the French Government. Their battery products are being developed for use in a broad range of target markets, including electric vehicles, aerospace, robotics, energy storage systems (including battery backup units for AI data centers), maritime, and other applications that require high energy density, fast charging capabilities, enhanced safety, and manufacturability and this transaction will help propel them forward. We see the enthusiasm for our shareholders in staying in this transaction as indicative of the overall enthusiasm for ProLogium that we've seen in our preliminary discussions with investors since the deal was announced."
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