Translational Development Acquisition registered with the SEC to offer 15 million units at $10 each. The SPAC intends to target a business focusing on healthcare or healthcare-related industries, including North American or European companies in the life sciences and medical technology sectors.
A unit consists of one ordinary share and one-half of a warrant, with whole warrants redeemable for a share at $11.50.
The SPAC is sponsored by Stone Capital Partners. CEO and Chairman Michael Hoffman is also president of Northern Genesis Acquisition III and was previously president of Northern Genesis Acquisition II and Northern Genesis Acquisition I from formation until their successful de-SPAC transactions. He is the founder of Stone Capital Partners, a private financing firm focused on energy infrastructure in North America and globally.
ThinkEquity is sole bookrunner on the offering.
The SPAC has applied for a Nasdaq listing under the symbol TDACU. Read more.
