Translational Development Acquisition Corp. TDAC
We are a blank check company incorporated on April 19, 2022 in Cayman Islands as an exempted company, incorporated for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer herein as our "initial business combination" or "Business Combination."
The registration statement (File No. 333-282763) (the "Registration Statement") for our initial public offering was declared effective on December 20, 2024 (the "IPO"). On December 24, 2024, we consummated the IPO of 17,250,000 units (the "Units"), which includes the full exercise of the underwriter's over-allotment option. Each Unit consists of one Class A ordinary share (the "Ordinary Share") and one-half of one redeemable warrant (the "Warrant"), each whole Warrant entitling the holder thereof to purchase one Ordinary Share for $11.50 per share. The Units were sold at an offering price of $10.00 per Unit, generating gross proceeds of $172,500,000.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| SG&A | $944.5K | $196.4K | — | — |
| Operating income | -$944.5K | -$196.4K | -$485.6K | — |
| Pre-tax income | — | -$71.0K | — | — |
| Income tax | — | $0 | — | — |
| Net income | $6.4M | -$71.0K | -$485.6K | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Cash and equivalents | $29.8K | $438.2K | $2.0K | $2.2K |
| Total current assets | $39.5K | $650.2K | $2.0K | — |
| Total assets | $181.7M | $175.0M | $2.0K | — |
| Accounts payable | $162.3K | $16.2K | $1.3K | — |
| Total current liabilities | $544.1K | $210.3K | $509.7K | — |
| Total liabilities | $6.6M | $6.2M | $509.7K | — |
| Retained earnings | -$6.5M | -$5.6M | -$532.7K | — |
| Total equity | -$6.5M | -$5.6M | -$507.7K | -$22.1K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Operating cash flow | -$608.4K | -$851.4K | -$204 | — |
| Investing cash flow | — | -$174.2M | — | — |
| Financing cash flow | $200.0K | $175.5M | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-058544.
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