Translational Development Acquisition strikes USD 50 million private placement for 5,000,000 shares at USD 10 each
TDAC•Private placement and warrant terms
- Translational Development Acquisition Corp. signed a $50 million PIPE with Naetas Holding for 5,000,000 Class A shares at USD 10 each.
- Naetas will also receive 5,000,000 warrants for no additional consideration, mirroring public warrant terms with an USD 11.5 exercise price.
- Closing is expected one business day before the first merger in TDAC’s planned business combination with ProLogium.
- At the merger, the shares convert into ProLogium Class A shares; the warrants convert into ProLogium warrants.
- Funds will be held in escrow; if the deal does not close in time, cash is returned and the securities are canceled.
