Corporate ActionJun 12, 2026, 04:12 PM
TDAC Converts 4.66M Class B Shares to Class A Shares
AI Summary
Translational Development Acquisition Corp. (TDAC) issued 4,657,499 Class A ordinary shares to its Sponsor, TDAC Partners LLC, on June 12, 2026. This issuance resulted from the conversion of an equal number of Class B ordinary shares held by the Sponsor. The conversion did not generate any cash proceeds for the company and did not impact the amount in the trust account or the per-share redemption value of public Class A ordinary shares, which was approximately $10.69.
Key Highlights
- Translational Development Acquisition Corp. issued 4,657,499 Class A ordinary shares.
- Shares were issued to TDAC Partners LLC (the Sponsor) upon conversion of Class B shares.
- Following conversion, 21,907,499 Class A ordinary shares are outstanding.
- One Class B ordinary share remains outstanding after the conversion.
- The conversion did not generate cash proceeds for the company.
- The per-share redemption value of public Class A shares remained approximately $10.69.
- The Class A shares were issued under Section 3(a)(9) of the Securities Act of 1933.
Price Impact
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