ProLogium secures $50M investment ahead of SPAC merger

ProLogium Holding Inc. and Translational Development Acquisition Corp. (Nasdaq: TDAC) announced a $50 million capital commitment from existing ProLogium shareholders to support their planned business combination that would take ProLogium public.

The investment is based on a pre-money valuation of ProLogium of approximately $3.8 billion and forms part of the previously announced target financing tied to the transaction.

According to a press release, ProLogium plans to use the proceeds to advance the scale-up of its lithium ceramic battery production and support construction of its planned gigafactory in Dunkirk, France. That facility broke ground in February 2026 and is designed to reach a production capacity of 4.0 GWh by 2030, with a maximum site capacity of 44.0 GWh. The Dunkirk project is backed by a subsidy package of up to €1.375 billion from the French government.

Vincent Yang, founder and CEO of ProLogium, said the investment "reflects the confidence our investors have in ProLogium's technology and our ability to execute."

Michael B. Hoffman, chairman and CEO of TDAC, described the commitment as "a strong vote of confidence" and "a meaningful part of the financing behind our transaction."

ProLogium, founded in 2006 and headquartered in Taipei, Taiwan, holds over 1,100 global patents related to lithium ceramic battery technology. Its first gigafactory is located in Taoyuan, Taiwan. The company also operates an R&D center in Paris-Saclay, France, established in 2024.

Cohen & Company Capital Markets is acting as exclusive financial advisor and placement agent to ProLogium. BTIG, LLC is serving in the same capacity for TDAC. Sullivan & Cromwell LLP and LCS & Partners are legal advisors to ProLogium, while Venable is advising TDAC.

ProLogium has filed a registration statement on Form F-4 with the SEC in connection with the transaction.

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