{"success":true,"data":{"pressRelease":{"id":"46063","rtpr_id":"nGNE7n0YFZ","ticker":"TDAC","exchange":"NASDAQ","all_tickers":["TDAC"],"title":"ProLogium, a Next Generation Solid-State Battery Developer with 10+ Years of Proven Commercialization, to List on the Nasdaq through a Merger with Translational Development Acquisition Corp.","author":"Globe Newswire","published_at":"2026-05-27T11:00:00.518Z","article_body":"* ProLogium reached commercial-scale manufacturing for solid-state batteries\nin 2013, later delivered the world’s first solid-state battery demo car with\nENOVATE Motor in 2019. \n* ProLogium has shipped a total of over 2.4 million battery cells to customers\nsince 2013, of which more than 800,000 are its 3(rd)-generation batteries from\nthe Gigafactory in Taiwan. \n* With a portfolio of 1,100+ patents, ProLogium has introduced its\n4th-generation superfluidized inorganic solid-state battery solution with zero\nthermal runaway, high energy density, low temperature performance, fast\ncharging, competitive cost, and commercial readiness. \n* Pre-money valuation of ProLogium is expected to be approximately $3.8\nbillion.\n* The transaction is expected to fund the scaling of the production of the\ncompany’s 4th-generation batteries and the construction of ProLogium's new\ngigafactory in Dunkirk, France—an effort supported by an approved subsidy\npackage of up to ~€1.4 billion from the Government of the French Republic.\n* ProLogium is quickly moving into growth markets, including AI data centers,\naerospace, robotics, and defense, while continuing to strengthen its position\nin EVs.\nTAIPEI, Taiwan and NEW YORK, May 27, 2026 (GLOBE NEWSWIRE) -- ProLogium\nHolding Inc. (“ProLogium” or the “Company”), a global leader in the\ninnovation and manufacturing of next-generation solid-state batteries, and\nTranslational Development Acquisition Corp. (\"TDAC\") (Nasdaq: TDAC), a special\npurpose acquisition company, today announced they have entered into a\ndefinitive agreement for a business combination that would result in ProLogium\nbecoming a publicly listed company (the “Transaction”).\n\nUpon closing of the Transaction, the combined company will be named ProLogium\nTechnology and is expected to be listed on the Nasdaq under the ticker symbol\n“PRLG”.\n\nFor more than two decades, ProLogium has focused on a singular mission: moving\nsolid-state battery technology from the lab to mass production. ProLogium’s\nproprietary lithium ceramic battery (LCB) platform is designed to deliver\nsignificant improvements in energy density, performance and safety. The\n4th-generation technology features a triple safety mechanism consisting of\nnon-flammable electrolyte, an all-ceramic separator and an active safety\nmechanism embedded in superfluidized all inorganic solid-state electrolyte --\nmarking the first battery with zero thermal runaway risk.\n\nVincent Yang, Founder and CEO of ProLogium, commented, \"Today marks a pivotal\nmoment in ProLogium’s journey in accelerating the commercialization of our\nindustry-leading solid-state batteries. This Transaction is expected to\nprovide us with the capital to fund our next phase of growth -- enabling us to\nscale the production of our 4th-generation superfluidized inorganic\nsolid-state batteries, advance the construction of our new gigafactory in\nDunkirk, France, and support our expansion into adjacent application verticals\nincluding data centers, aerospace and robotics while continuing to progress in\nEVs.”\n\n“We are excited to partner with TDAC’s best-in-class team, who shares our\nvision of a new energy revolution that is built with next generation\nsolid-state batteries. Today’s Transaction is a critical step in putting our\nbatteries in the hands of more customers, powering cutting-edge technologies\nand enabling a more sustainable future for all.”\n\nMichael B. Hoffman, Chairman and CEO of TDAC, added, “We could not be more\nexcited to partner with Vincent and his team on bringing ProLogium to the\npublic capital markets. We believe that ProLogium is the future of\ndistributed, mission critical energy based on their technological foundation\nand the capabilities to supply next generation batteries at gigawatt scale.\nThe TDAC team has been involved in the future of energy for decades, including\nthe building of companies such as Talen Energy and Pattern Energy; we see the\nneed for high performance distributed energy capabilities across a host of\nmarkets that are only now accessible due to the breakthrough of ProLogium's\nGen4 technology and manufacturing capabilities. ProLogium's partnerships with\nsome of the most impressive companies on the planet to deliver new use cases\nfor high performance batteries demonstrate its technology leadership and we\nbelieve the company's position as a leader in the energy future is bright.”\n\nProLogium’s technology leadership is built on a foundation of proprietary\nIP, with over 1,100 global battery patents and patent applications, and a\nproven track record of commercialization. The Company is currently advancing\ncommercial applications with strategic partners in off-highway applications\nsuch as construction vehicles, and in energy applications and smart mobility\nmarkets.\n\nIndependent third-party testing further validates the differentiation of the\nCompany’s technology: TÜV Rheinland recently confirmed a record 360 Wh/kg\nenergy density for ProLogium’s latest battery – more than 50% above\nconventional batteries; and UL Solutions ARC testing verified that\nProLogium’s ultra-safe all-inorganic superfluidized all inorganic\nsolid-state battery undergoes no thermal runaway under the Heat-Wait-Seek\n(HWS) method, marking an industry breakthrough.\n\nThe transaction values ProLogium at approximately $3.8B on a pre-money, net\ncash-free basis. ProLogium will seek funding by a combination of TDAC’s cash\nin trust and proceeds from a targeted common equity PIPE.\n\nThe boards of directors of both ProLogium and TDAC have approved the\nTransaction, which is expected to close in the second half of 2026, subject to\napproval by the shareholders of both ProLogium and TDAC, regulatory approvals,\nand other customary closing conditions.\n\nAdditional information about the Transaction, including a copy of the business\ncombination agreement and investor presentation, will be provided in a Current\nReport on Form 8-K to be filed by TDAC with the U.S. Securities and Exchange\nCommission (\"SEC\") and available at www.sec.gov.\n\nAdvisors\n\nCohen & Company Markets, a division of Cohen & Company Securities, LLC, is\nacting as the Exclusive Financial Advisor and Lead Capital Markets Advisor to\nProLogium. Crédit Agricole Corporate and Investment Bank is acting as the\nplacement agent to ProLogium. Sullivan & Cromwell LLP and LCS & Partners are\nserving as legal advisors to ProLogium. BTIG, LLC, is acting as the Exclusive\nFinancial Advisor and Lead Capital Markets Advisor to TDAC. Venable is serving\nas legal advisor to TDAC.\n\n\n\nAbout ProLogium\n\nFounded in 2006, ProLogium is an energy innovation company dedicated to the\ndevelopment and manufacturing of next-generation lithium ceramic batteries,\nholding over 1,100 global patents (granted and pending). In 2013, ProLogium\nintroduced the world’s first next-generation battery architecture featuring\na 100% ceramic separator, becoming the first company globally to successfully\ncommercialize solid-state batteries. In 2025, ProLogium again led the industry\nby introducing the world’s first superfluidized all-inorganic solid-state\nlithium ceramic battery, integrating the advantages of solid-state and liquid\ntype batteries and redefining next-generation battery technology with\nautomation-ready, scalable mass production and cost competitiveness. In 2026,\nProLogium once again received the Edison Awards Gold Award for its\nsuperfluidized all-inorganic solid-state lithium ceramic battery technology.\n\nWith more than 13 years of manufacturing know-how, ProLogium is also the only\ncompany globally that can publicly demonstrate a solid-state battery\nmass-production line—proving that solid-state batteries are not merely a\nlaboratory technology, but a mature solution ready for scalable manufacturing.\nIn 2024, ProLogium inaugurated its first GWh-class gigafactory in Taoyuan,\nTaiwan, and has shipped more than 800,000 cells to date. In May 2024,\nProLogium established its first overseas R&D center in Paris-Saclay, France,\nproviding customized technical support for the European market. The\nCompany’s first overseas GWh-class facility in Dunkirk, France, completed\nits environmental assessment and building permit process by the end of 2024,\nwith construction expected to begin in 2026. Ramp-up is expected to begin\nbetween Q4 2028 and Q1 2029, followed by formal mass production and deliveries\nin Q2 2029.\n\nAbout TDAC\n\nTDAC is a blank check company incorporated for the purpose of effecting a\nmerger, amalgamation, share exchange, asset acquisition, share purchase,\nreorganization or similar business combination with one or more businesses.\nTDAC may pursue an acquisition opportunity in any business, industry, sector,\nor geographical location, and intends to focus on industries that complement\nits management team's background and intends to capitalize on the ability of\nits management team to identify and acquire a business.\n\nTDAC's management team is led by Michael B. Hoffman, its chief executive\nofficer and chairman of the board of directors, and Avanindra C. Das, chief\nfinancial officer. In addition, TDAC’s board includes E. Premkumar Reddy,\nCurtis T. Keith, Matthew A. Kestenbaum and Christopher Jarratt.\n\nImportant Information and Where to Find It\n\nFor additional information on the Transaction, see TDAC’s Current Report on\nForm 8-K, which will be filed concurrently with this press release. In\nconnection with the Transaction, ProLogium will file a registration statement\non Form F-4 with the SEC that will include a prospectus with respect to\nProLogium’s securities to be issued in connection with the Transaction and a\nproxy statement with respect to the shareholder meeting of TDAC to vote on the\nTransaction. This communication does not contain all the information that\nshould be considered concerning the Transaction and is not intended to form\nthe basis of any investment decision or any other decision in respect of the\nTransaction. Before making any voting or investment decision, shareholders of\nTDAC, investors and other interested persons are advised to read CAREFULLY IN\ntheir ENTIRETY, when available, the preliminary proxy statement / prospectus\n(including any amendments thereto), as well as other documents to be filed\nwith the SEC, because these documents will contain important information about\nProLogium, TDAC and the Transaction. After the registration statement is\ndeclared effective, the definitive proxy statement / prospectus to be\nincluded in the registration statement will be mailed to shareholders of TDAC\nas of a record date to be established for voting on the Transaction. The\npreliminary and definitive proxy statement / prospectus to be included in the\nregistration statement, once available, can also be obtained, without charge,\nat the SEC’s website at www.sec.gov or by directing a request to:\ninfo@translational-development.com.\n\nForward-Looking Statements\n\nThis communication contains forward-looking statements within the meaning of\nSection 27A of the U.S. Securities Act of 1933, as amended, or the Securities\nAct, and section 21E of the U.S. Securities Exchange Act of 1934, as amended,\nor the Exchange Act, that are based on beliefs and assumptions and on\ninformation currently available to ProLogium and TDAC. In some cases, you can\nidentify forward-looking statements by the following words: “may,”\n“will,” “could,” “would,” “should,” “expect,”\n“intend,” “plan,” “anticipate,” “believe,” “estimate,”\n“predict,” “project,” “potential,” “continue,” “ongoing,”\n“target,” “seek” or the negative or plural of these words, or other\nsimilar expressions that are predictions or indicate future events or\nprospects, although not all forward-looking statements contain these words.\nAny statements that refer to expectations, projections or other\ncharacterizations of future events or circumstances, including projections of\nmarket opportunity, number of customers or user and market share, the\ncapability of ProLogium’s technology, ProLogium’s business plans including\nits plans to expand globally, the sources and uses of proceeds from the\nTransaction, the anticipated enterprise value of the combined company\nfollowing the consummation of the Transaction, any benefits of ProLogium’s\npartnerships, strategies or plans as they relate to the Transaction,\nanticipated benefits of the Transaction and expectations related to the terms\nand timing of the Transaction are also forward-looking statements. These\nstatements involve risks, uncertainties and other factors that may cause\nactual results, levels of activity, performance or achievements to be\nmaterially different from those expressed or implied by these forward-looking\nstatements. These statements are based on ProLogium and TDAC’s reasonable\nexpectations and beliefs concerning future events and involve risks and\nuncertainties that may cause actual results to differ materially from current\nexpectations. These factors are difficult to predict accurately and may be\nbeyond ProLogium and TDAC’s control. Forward-looking statements in this\ncommunication or elsewhere speak only as of the date made. New uncertainties\nand risks arise from time to time, and it is impossible for ProLogium or TDAC\nto predict these events or how they may affect ProLogium or TDAC. In addition,\nthere will be risks and uncertainties described in the proxy statement /\nprospectus relating to the Transaction, which is expected to be filed by\nProLogium with the SEC and other documents filed by ProLogium or TDAC from\ntime to time with the SEC. These filings may identify and address other\nimportant risks and uncertainties that could cause actual events and results\nto differ materially from those contained in the forward-looking statements.\nNeither ProLogium nor TDAC can assure you that the forward-looking statements\nin this communication will prove to be accurate. These forward-looking\nstatements are subject to a number of risks and uncertainties, including, but\nnot limited to: the occurrence of any event, change or other circumstances\nthat could delay, impede or prevent the business combination or give rise to\nthe termination of the business combination; the outcome of any legal\nproceedings that may be instituted against ProLogium or TDAC, the combined\ncompany or others following the announcement of the business combination; the\ninability to complete the business combination due to the failure to obtain\napproval of the shareholders of ProLogium and TDAC or of the parties to\nsatisfy other conditions to closing; the amount of redemption requests may by\nTDAC’s public shareholders; the ability to maintain the stock exchange\nlisting standards following the consummation of the business combination; the\nrisk that the business combination disrupts current plans and operations of\nProLogium or TDAC as a result of the announcement and consummation of the\nbusiness combination; the ability to recognize the anticipated benefits of the\nbusiness combination; costs related to the business combination; changes in\napplicable laws or regulations; international trade disputes, including\nthreatened or implemented tariffs by the U.S. and threatened or implemented\ntariffs by foreign countries in retaliation; the ability of ProLogium to\nexecute its business model, including market acceptance of its planned\nproducts and services; the combined company’s ability to raise capital;\nfuture financial performance of the combined company follow the business\ncombination; the possibility that TDAC or the combined company may be\nadversely affected by other economic, business, and/or competitive factors;\nrisks associated with ProLogium’s efforts to commercialize its products;\nProLogium’s ability to maintain its existing agreements with third parties\nand to negotiate and enter into new definitive agreements on favorable terms,\nif at all; the impact of competing products on ProLogium’s business;\nintellectual property-related claims against ProLogium or the combined\ncompany; ProLogium’s dependence upon its key personnel and ability to\nattract and retain such personnel and additional qualified personnel;\nProLogium’s ability to source the raw materials for its products; and other\nrisks and uncertainties set forth in the section entitled “Risk Factors”\nin the registration statement on Form F-4 to be filed by ProLogium with the\nSEC and those included under the heading “Risk Factors” in the final\nprospectus for TDAC’s initial public offering, filed pursuant to Rule\n424b(4) on December 23, 2024, and its annual report on Form 10-K for year\nended December 31, 2025 and in its subsequent quarterly reports on Form 10-Q\nand other filings with the SEC. There may be additional risks that neither\nProLogium nor TDAC presently knows or that ProLogium and TDAC currently\nbelieve are immaterial that could also cause actual results to differ from\nthose contained in the forward-looking statements. In light of the significant\nuncertainties in these forward-looking statements, you should not regard these\nstatements as a representation or warranty by ProLogium, TDAC, their\nrespective directors, officers or employees or any other person that ProLogium\nand TDAC will achieve their objectives and plans in any specified time frame,\nor at all. The forward-looking statements in this communication represent the\nviews of ProLogium and TDAC as of the date of this communication. Subsequent\nevents and developments may cause those views to change. Except as required by\napplicable law, neither ProLogium nor TDAC has any duty to, and does not\nintend to, update or revise the forward-looking statements in this\ncommunication or elsewhere after the date of this communication. You should,\ntherefore, not rely on these forward-looking statements as representing the\nviews of ProLogium or TDAC as of any date subsequent to the date of this\ncommunication.\n\nParticipants in Solicitation\n\nProLogium and TDAC and their respective directors and executive officers may\nbe considered participants in the solicitation of proxies with respect to the\nTransaction described in this communication under the rules of the SEC.\nInformation about the directors and executive officers of TDAC and their\nownership is set forth in TDAC’s filings with the SEC, including TDAC’s\nfinal prospectus for its initial public offering, filed pursuant to Rule\n424b(4) on December 23, 2024, its Form 10-K for the year ended December 31,\n2025 and subsequent filings under section 16 of the Exchange Act or on Form\n10-Q. Additional information regarding the persons who may, under the rules of\nthe SEC, be deemed participants in the solicitation of TDAC’s shareholders\nin connection with the Transaction will be set forth in the registration\nstatement containing the preliminary proxy statement/prospectus when those are\nfiled with the SEC. These documents are available free of charge at the\nSEC’s website at www.sec.gov or by directing a request to:\ninfo@translational-development.com.\n\nNo Offer or Solicitation\n\nThis communication is not a proxy statement or solicitation of a proxy,\nconsent or authorization with respect to any securities or in respect of the\nTransaction and does not constitute an offer to sell or a solicitation of an\noffer to buy any securities of ProLogium or TDAC, nor shall there be any sale\nof any such securities in any state or jurisdiction in which such offer,\nsolicitation or sale would be unlawful prior to registration or qualification\nunder the securities laws of such state or jurisdiction. No offer of\nsecurities shall be made except by means of a prospectus meeting the\nrequirements of the Securities Act.\n\nContacts\n\nsam.chang@prologium.com\n\nprologium@webershandwick.com\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/d85f06d3-3e91-406b-a5d0-45283e699021","article_body_html":"","raw_payload":{"data":{"id":"nGNE7n0YFZ","title":"ProLogium, a Next Generation Solid-State Battery Developer with 10+ Years of Proven Commercialization, to List on the Nasdaq through a Merger with Translational Development Acquisition Corp.","author":"Globe Newswire","ticker":"TDAC","created":"2026-05-27T11:00:00.518Z","tickers":["TDAC"],"exchange":"NASDAQ","article_body":"* ProLogium reached commercial-scale manufacturing for solid-state batteries\nin 2013, later delivered the world’s first solid-state battery demo car with\nENOVATE Motor in 2019. \n* ProLogium has shipped a total of over 2.4 million battery cells to customers\nsince 2013, of which more than 800,000 are its 3(rd)-generation batteries from\nthe Gigafactory in Taiwan. \n* With a portfolio of 1,100+ patents, ProLogium has introduced its\n4th-generation superfluidized inorganic solid-state battery solution with zero\nthermal runaway, high energy density, low temperature performance, fast\ncharging, competitive cost, and commercial readiness. \n* Pre-money valuation of ProLogium is expected to be approximately $3.8\nbillion.\n* The transaction is expected to fund the scaling of the production of the\ncompany’s 4th-generation batteries and the construction of ProLogium's new\ngigafactory in Dunkirk, France—an effort supported by an approved subsidy\npackage of up to ~€1.4 billion from the Government of the French Republic.\n* ProLogium is quickly moving into growth markets, including AI data centers,\naerospace, robotics, and defense, while continuing to strengthen its position\nin EVs.\nTAIPEI, Taiwan and NEW YORK, May 27, 2026 (GLOBE NEWSWIRE) -- ProLogium\nHolding Inc. (“ProLogium” or the “Company”), a global leader in the\ninnovation and manufacturing of next-generation solid-state batteries, and\nTranslational Development Acquisition Corp. (\"TDAC\") (Nasdaq: TDAC), a special\npurpose acquisition company, today announced they have entered into a\ndefinitive agreement for a business combination that would result in ProLogium\nbecoming a publicly listed company (the “Transaction”).\n\nUpon closing of the Transaction, the combined company will be named ProLogium\nTechnology and is expected to be listed on the Nasdaq under the ticker symbol\n“PRLG”.\n\nFor more than two decades, ProLogium has focused on a singular mission: moving\nsolid-state battery technology from the lab to mass production. ProLogium’s\nproprietary lithium ceramic battery (LCB) platform is designed to deliver\nsignificant improvements in energy density, performance and safety. The\n4th-generation technology features a triple safety mechanism consisting of\nnon-flammable electrolyte, an all-ceramic separator and an active safety\nmechanism embedded in superfluidized all inorganic solid-state electrolyte --\nmarking the first battery with zero thermal runaway risk.\n\nVincent Yang, Founder and CEO of ProLogium, commented, \"Today marks a pivotal\nmoment in ProLogium’s journey in accelerating the commercialization of our\nindustry-leading solid-state batteries. This Transaction is expected to\nprovide us with the capital to fund our next phase of growth -- enabling us to\nscale the production of our 4th-generation superfluidized inorganic\nsolid-state batteries, advance the construction of our new gigafactory in\nDunkirk, France, and support our expansion into adjacent application verticals\nincluding data centers, aerospace and robotics while continuing to progress in\nEVs.”\n\n“We are excited to partner with TDAC’s best-in-class team, who shares our\nvision of a new energy revolution that is built with next generation\nsolid-state batteries. Today’s Transaction is a critical step in putting our\nbatteries in the hands of more customers, powering cutting-edge technologies\nand enabling a more sustainable future for all.”\n\nMichael B. Hoffman, Chairman and CEO of TDAC, added, “We could not be more\nexcited to partner with Vincent and his team on bringing ProLogium to the\npublic capital markets. We believe that ProLogium is the future of\ndistributed, mission critical energy based on their technological foundation\nand the capabilities to supply next generation batteries at gigawatt scale.\nThe TDAC team has been involved in the future of energy for decades, including\nthe building of companies such as Talen Energy and Pattern Energy; we see the\nneed for high performance distributed energy capabilities across a host of\nmarkets that are only now accessible due to the breakthrough of ProLogium's\nGen4 technology and manufacturing capabilities. ProLogium's partnerships with\nsome of the most impressive companies on the planet to deliver new use cases\nfor high performance batteries demonstrate its technology leadership and we\nbelieve the company's position as a leader in the energy future is bright.”\n\nProLogium’s technology leadership is built on a foundation of proprietary\nIP, with over 1,100 global battery patents and patent applications, and a\nproven track record of commercialization. The Company is currently advancing\ncommercial applications with strategic partners in off-highway applications\nsuch as construction vehicles, and in energy applications and smart mobility\nmarkets.\n\nIndependent third-party testing further validates the differentiation of the\nCompany’s technology: TÜV Rheinland recently confirmed a record 360 Wh/kg\nenergy density for ProLogium’s latest battery – more than 50% above\nconventional batteries; and UL Solutions ARC testing verified that\nProLogium’s ultra-safe all-inorganic superfluidized all inorganic\nsolid-state battery undergoes no thermal runaway under the Heat-Wait-Seek\n(HWS) method, marking an industry breakthrough.\n\nThe transaction values ProLogium at approximately $3.8B on a pre-money, net\ncash-free basis. ProLogium will seek funding by a combination of TDAC’s cash\nin trust and proceeds from a targeted common equity PIPE.\n\nThe boards of directors of both ProLogium and TDAC have approved the\nTransaction, which is expected to close in the second half of 2026, subject to\napproval by the shareholders of both ProLogium and TDAC, regulatory approvals,\nand other customary closing conditions.\n\nAdditional information about the Transaction, including a copy of the business\ncombination agreement and investor presentation, will be provided in a Current\nReport on Form 8-K to be filed by TDAC with the U.S. Securities and Exchange\nCommission (\"SEC\") and available at www.sec.gov.\n\nAdvisors\n\nCohen & Company Markets, a division of Cohen & Company Securities, LLC, is\nacting as the Exclusive Financial Advisor and Lead Capital Markets Advisor to\nProLogium. Crédit Agricole Corporate and Investment Bank is acting as the\nplacement agent to ProLogium. Sullivan & Cromwell LLP and LCS & Partners are\nserving as legal advisors to ProLogium. BTIG, LLC, is acting as the Exclusive\nFinancial Advisor and Lead Capital Markets Advisor to TDAC. Venable is serving\nas legal advisor to TDAC.\n\n\n\nAbout ProLogium\n\nFounded in 2006, ProLogium is an energy innovation company dedicated to the\ndevelopment and manufacturing of next-generation lithium ceramic batteries,\nholding over 1,100 global patents (granted and pending). In 2013, ProLogium\nintroduced the world’s first next-generation battery architecture featuring\na 100% ceramic separator, becoming the first company globally to successfully\ncommercialize solid-state batteries. In 2025, ProLogium again led the industry\nby introducing the world’s first superfluidized all-inorganic solid-state\nlithium ceramic battery, integrating the advantages of solid-state and liquid\ntype batteries and redefining next-generation battery technology with\nautomation-ready, scalable mass production and cost competitiveness. In 2026,\nProLogium once again received the Edison Awards Gold Award for its\nsuperfluidized all-inorganic solid-state lithium ceramic battery technology.\n\nWith more than 13 years of manufacturing know-how, ProLogium is also the only\ncompany globally that can publicly demonstrate a solid-state battery\nmass-production line—proving that solid-state batteries are not merely a\nlaboratory technology, but a mature solution ready for scalable manufacturing.\nIn 2024, ProLogium inaugurated its first GWh-class gigafactory in Taoyuan,\nTaiwan, and has shipped more than 800,000 cells to date. In May 2024,\nProLogium established its first overseas R&D center in Paris-Saclay, France,\nproviding customized technical support for the European market. The\nCompany’s first overseas GWh-class facility in Dunkirk, France, completed\nits environmental assessment and building permit process by the end of 2024,\nwith construction expected to begin in 2026. Ramp-up is expected to begin\nbetween Q4 2028 and Q1 2029, followed by formal mass production and deliveries\nin Q2 2029.\n\nAbout TDAC\n\nTDAC is a blank check company incorporated for the purpose of effecting a\nmerger, amalgamation, share exchange, asset acquisition, share purchase,\nreorganization or similar business combination with one or more businesses.\nTDAC may pursue an acquisition opportunity in any business, industry, sector,\nor geographical location, and intends to focus on industries that complement\nits management team's background and intends to capitalize on the ability of\nits management team to identify and acquire a business.\n\nTDAC's management team is led by Michael B. Hoffman, its chief executive\nofficer and chairman of the board of directors, and Avanindra C. Das, chief\nfinancial officer. In addition, TDAC’s board includes E. Premkumar Reddy,\nCurtis T. Keith, Matthew A. Kestenbaum and Christopher Jarratt.\n\nImportant Information and Where to Find It\n\nFor additional information on the Transaction, see TDAC’s Current Report on\nForm 8-K, which will be filed concurrently with this press release. In\nconnection with the Transaction, ProLogium will file a registration statement\non Form F-4 with the SEC that will include a prospectus with respect to\nProLogium’s securities to be issued in connection with the Transaction and a\nproxy statement with respect to the shareholder meeting of TDAC to vote on the\nTransaction. This communication does not contain all the information that\nshould be considered concerning the Transaction and is not intended to form\nthe basis of any investment decision or any other decision in respect of the\nTransaction. Before making any voting or investment decision, shareholders of\nTDAC, investors and other interested persons are advised to read CAREFULLY IN\ntheir ENTIRETY, when available, the preliminary proxy statement / prospectus\n(including any amendments thereto), as well as other documents to be filed\nwith the SEC, because these documents will contain important information about\nProLogium, TDAC and the Transaction. After the registration statement is\ndeclared effective, the definitive proxy statement / prospectus to be\nincluded in the registration statement will be mailed to shareholders of TDAC\nas of a record date to be established for voting on the Transaction. The\npreliminary and definitive proxy statement / prospectus to be included in the\nregistration statement, once available, can also be obtained, without charge,\nat the SEC’s website at www.sec.gov or by directing a request to:\ninfo@translational-development.com.\n\nForward-Looking Statements\n\nThis communication contains forward-looking statements within the meaning of\nSection 27A of the U.S. Securities Act of 1933, as amended, or the Securities\nAct, and section 21E of the U.S. Securities Exchange Act of 1934, as amended,\nor the Exchange Act, that are based on beliefs and assumptions and on\ninformation currently available to ProLogium and TDAC. In some cases, you can\nidentify forward-looking statements by the following words: “may,”\n“will,” “could,” “would,” “should,” “expect,”\n“intend,” “plan,” “anticipate,” “believe,” “estimate,”\n“predict,” “project,” “potential,” “continue,” “ongoing,”\n“target,” “seek” or the negative or plural of these words, or other\nsimilar expressions that are predictions or indicate future events or\nprospects, although not all forward-looking statements contain these words.\nAny statements that refer to expectations, projections or other\ncharacterizations of future events or circumstances, including projections of\nmarket opportunity, number of customers or user and market share, the\ncapability of ProLogium’s technology, ProLogium’s business plans including\nits plans to expand globally, the sources and uses of proceeds from the\nTransaction, the anticipated enterprise value of the combined company\nfollowing the consummation of the Transaction, any benefits of ProLogium’s\npartnerships, strategies or plans as they relate to the Transaction,\nanticipated benefits of the Transaction and expectations related to the terms\nand timing of the Transaction are also forward-looking statements. These\nstatements involve risks, uncertainties and other factors that may cause\nactual results, levels of activity, performance or achievements to be\nmaterially different from those expressed or implied by these forward-looking\nstatements. These statements are based on ProLogium and TDAC’s reasonable\nexpectations and beliefs concerning future events and involve risks and\nuncertainties that may cause actual results to differ materially from current\nexpectations. These factors are difficult to predict accurately and may be\nbeyond ProLogium and TDAC’s control. Forward-looking statements in this\ncommunication or elsewhere speak only as of the date made. New uncertainties\nand risks arise from time to time, and it is impossible for ProLogium or TDAC\nto predict these events or how they may affect ProLogium or TDAC. In addition,\nthere will be risks and uncertainties described in the proxy statement /\nprospectus relating to the Transaction, which is expected to be filed by\nProLogium with the SEC and other documents filed by ProLogium or TDAC from\ntime to time with the SEC. These filings may identify and address other\nimportant risks and uncertainties that could cause actual events and results\nto differ materially from those contained in the forward-looking statements.\nNeither ProLogium nor TDAC can assure you that the forward-looking statements\nin this communication will prove to be accurate. These forward-looking\nstatements are subject to a number of risks and uncertainties, including, but\nnot limited to: the occurrence of any event, change or other circumstances\nthat could delay, impede or prevent the business combination or give rise to\nthe termination of the business combination; the outcome of any legal\nproceedings that may be instituted against ProLogium or TDAC, the combined\ncompany or others following the announcement of the business combination; the\ninability to complete the business combination due to the failure to obtain\napproval of the shareholders of ProLogium and TDAC or of the parties to\nsatisfy other conditions to closing; the amount of redemption requests may by\nTDAC’s public shareholders; the ability to maintain the stock exchange\nlisting standards following the consummation of the business combination; the\nrisk that the business combination disrupts current plans and operations of\nProLogium or TDAC as a result of the announcement and consummation of the\nbusiness combination; the ability to recognize the anticipated benefits of the\nbusiness combination; costs related to the business combination; changes in\napplicable laws or regulations; international trade disputes, including\nthreatened or implemented tariffs by the U.S. and threatened or implemented\ntariffs by foreign countries in retaliation; the ability of ProLogium to\nexecute its business model, including market acceptance of its planned\nproducts and services; the combined company’s ability to raise capital;\nfuture financial performance of the combined company follow the business\ncombination; the possibility that TDAC or the combined company may be\nadversely affected by other economic, business, and/or competitive factors;\nrisks associated with ProLogium’s efforts to commercialize its products;\nProLogium’s ability to maintain its existing agreements with third parties\nand to negotiate and enter into new definitive agreements on favorable terms,\nif at all; the impact of competing products on ProLogium’s business;\nintellectual property-related claims against ProLogium or the combined\ncompany; ProLogium’s dependence upon its key personnel and ability to\nattract and retain such personnel and additional qualified personnel;\nProLogium’s ability to source the raw materials for its products; and other\nrisks and uncertainties set forth in the section entitled “Risk Factors”\nin the registration statement on Form F-4 to be filed by ProLogium with the\nSEC and those included under the heading “Risk Factors” in the final\nprospectus for TDAC’s initial public offering, filed pursuant to Rule\n424b(4) on December 23, 2024, and its annual report on Form 10-K for year\nended December 31, 2025 and in its subsequent quarterly reports on Form 10-Q\nand other filings with the SEC. There may be additional risks that neither\nProLogium nor TDAC presently knows or that ProLogium and TDAC currently\nbelieve are immaterial that could also cause actual results to differ from\nthose contained in the forward-looking statements. In light of the significant\nuncertainties in these forward-looking statements, you should not regard these\nstatements as a representation or warranty by ProLogium, TDAC, their\nrespective directors, officers or employees or any other person that ProLogium\nand TDAC will achieve their objectives and plans in any specified time frame,\nor at all. The forward-looking statements in this communication represent the\nviews of ProLogium and TDAC as of the date of this communication. Subsequent\nevents and developments may cause those views to change. Except as required by\napplicable law, neither ProLogium nor TDAC has any duty to, and does not\nintend to, update or revise the forward-looking statements in this\ncommunication or elsewhere after the date of this communication. You should,\ntherefore, not rely on these forward-looking statements as representing the\nviews of ProLogium or TDAC as of any date subsequent to the date of this\ncommunication.\n\nParticipants in Solicitation\n\nProLogium and TDAC and their respective directors and executive officers may\nbe considered participants in the solicitation of proxies with respect to the\nTransaction described in this communication under the rules of the SEC.\nInformation about the directors and executive officers of TDAC and their\nownership is set forth in TDAC’s filings with the SEC, including TDAC’s\nfinal prospectus for its initial public offering, filed pursuant to Rule\n424b(4) on December 23, 2024, its Form 10-K for the year ended December 31,\n2025 and subsequent filings under section 16 of the Exchange Act or on Form\n10-Q. Additional information regarding the persons who may, under the rules of\nthe SEC, be deemed participants in the solicitation of TDAC’s shareholders\nin connection with the Transaction will be set forth in the registration\nstatement containing the preliminary proxy statement/prospectus when those are\nfiled with the SEC. These documents are available free of charge at the\nSEC’s website at www.sec.gov or by directing a request to:\ninfo@translational-development.com.\n\nNo Offer or Solicitation\n\nThis communication is not a proxy statement or solicitation of a proxy,\nconsent or authorization with respect to any securities or in respect of the\nTransaction and does not constitute an offer to sell or a solicitation of an\noffer to buy any securities of ProLogium or TDAC, nor shall there be any sale\nof any such securities in any state or jurisdiction in which such offer,\nsolicitation or sale would be unlawful prior to registration or qualification\nunder the securities laws of such state or jurisdiction. No offer of\nsecurities shall be made except by means of a prospectus meeting the\nrequirements of the Securities Act.\n\nContacts\n\nsam.chang@prologium.com\n\nprologium@webershandwick.com\n\nA photo accompanying this announcement is available at\nhttps://www.globenewswire.com/NewsRoom/AttachmentNg/d85f06d3-3e91-406b-a5d0-45283e699021"},"type":"article","timestamp":"2026-05-27T11:00:00.615808007Z","server_sent_at_ms":1779879600615},"received_at":"2026-05-27T11:00:00.704Z","source_url":null},"analysis":{"id":"35498","press_release_id":"46063","analysis_json":{"industry":{"label":"Electrical Equipment","sector":"Industrials"},"redFlags":["SPAC merger structure carries redemption risk and potential dilution from PIPE","Pre-money valuation of $3.8B is high for a company transitioning to public markets with limited revenue history","Gigafactory ramp-up not expected until 2028-2029, implying long path to scale"],"eventType":"m_and_a","narrative":"ProLogium Holding Inc. and Translational Development Acquisition Corp. (TDAC) have entered into a definitive agreement for a business combination that will list ProLogium on Nasdaq under the ticker PRLG.\n\nThe transaction values ProLogium at approximately $3.8 billion on a pre-money, net cash-free basis, providing capital to scale its 4th-generation solid-state battery production and build a new gigafactory in Dunkirk, France.\n\nProLogium brings a proven commercialization track record, having shipped over 2.4 million battery cells since 2013 and securing a ~€1.4 billion subsidy package from the French government for its European expansion.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"ProLogium goes public via SPAC merger at $3.8B valuation, backed by €1.4B French subsidy and proven solid-state battery tech."},"keyFigures":{"dealValueUsd":3800000000,"customDimensions":{"patents":"1,100+","cells_shiped":"2.4 million","energy_density":"360 Wh/kg","french_subsidy":"~€1.4 billion","gen3_cells_shiped":"800,000","pre_money_valuation":"$3.8 billion"}},"quotedText":"Today marks a pivotal moment in ProLogium’s journey in accelerating the commercialization of our industry-leading solid-state batteries.","namedEntities":{"people":[{"name":"Vincent Yang","role":"Founder and CEO of ProLogium"},{"name":"Michael B. 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This is a binary event that transitions the company from private to public, unlocking capital for gigafactory construction and scaling."},"tickerRelevance":{"others":[{"ticker":"PRLG","relevance":"target"}],"primary":"TDAC"},"globalImportance":65,"audienceRelevance":70,"eventTypeSecondary":["ticker_change"],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"spac_merger","sectorWeight":"high","householdBrandBoost":"low","marketCapAdjustment":"positive","retailFavoriteBoost":"medium"}},"event_type":"m_and_a","event_type_secondary":["ticker_change"],"sentiment":"bullish","material_impact_score":5,"narrative":"ProLogium Holding Inc. and Translational Development Acquisition Corp. (TDAC) have entered into a definitive agreement for a business combination that will list ProLogium on Nasdaq under the ticker PRLG.\n\nThe transaction values ProLogium at approximately $3.8 billion on a pre-money, net cash-free basis, providing capital to scale its 4th-generation solid-state battery production and build a new gigafactory in Dunkirk, France.\n\nProLogium brings a proven commercialization track record, having shipped over 2.4 million battery cells since 2013 and securing a ~€1.4 billion subsidy package from the French government for its European expansion.","key_figures":{"dealValueUsd":3800000000,"customDimensions":{"patents":"1,100+","cells_shiped":"2.4 million","energy_density":"360 Wh/kg","french_subsidy":"~€1.4 billion","gen3_cells_shiped":"800,000","pre_money_valuation":"$3.8 billion"}},"named_entities":{"people":[{"name":"Vincent Yang","role":"Founder and CEO of ProLogium"},{"name":"Michael B. Hoffman","role":"Chairman and CEO of TDAC"},{"name":"Avanindra C. Das","role":"CFO of TDAC"}],"products":["solid-state batteries","lithium ceramic battery (LCB)","4th-generation superfluidized inorganic solid-state battery"],"companies":[{"name":"ProLogium Holding Inc.","ticker":"PRLG","relationship":"target"},{"name":"Translational Development Acquisition Corp.","ticker":"TDAC","relationship":"acquirer"},{"name":"ENOVATE Motor","relationship":"customer/partner"},{"name":"Cohen & Company Markets","relationship":"financial advisor"},{"name":"Crédit Agricole Corporate and Investment Bank","relationship":"placement agent"},{"name":"BTIG, LLC","relationship":"financial advisor"},{"name":"Talen Energy","relationship":"other"},{"name":"Pattern Energy","relationship":"other"}],"dollarAmounts":[{"amount":"$3.8 billion","context":"pre-money valuation of ProLogium"},{"amount":"~€1.4 billion","context":"approved subsidy package from French Government"}]},"model_name":"qwen3_6_27b_awq","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-05-27T11:01:22.042Z","global_importance":65,"audience_relevance":70,"importance_components":{"tickerTier":"mid-cap","eventGravity":"spac_merger","sectorWeight":"high","householdBrandBoost":"low","marketCapAdjustment":"positive","retailFavoriteBoost":"medium"}},"durationMs":42893,"modelName":"george-droid-qwen-72b"}}