Translational Development Acquisition Corp-A(TDAC) - 2025 Q1 - Quarterly Report

Financial Performance - For the three months ended March 31, 2025, the company reported a net income of $1,483,074, primarily from dividends earned on marketable securities held in the Trust Account amounting to $1,830,482, offset by general and administrative costs of $347,408 [119]. - As of March 31, 2025, the company had cash of $206,600 and working capital of $92,522, raising concerns about its ability to sustain operations for at least one year [130]. - The company has no long-term debt or significant liabilities, apart from a monthly fee of approximately $10,000 to the Sponsor for administrative services [136]. Investments and Trust Account - As of March 31, 2025, the company had investments of $176,180,828 held in the Trust Account, with no withdrawals made from the account through that date [125]. - Following the IPO, $174,225,000 was placed in the Trust Account, equating to $10.10 per Unit [123]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination, with remaining proceeds allocated for working capital [126]. Initial Public Offering (IPO) - The company completed its Initial Public Offering on December 24, 2024, raising gross proceeds of $172,500,000 from the sale of 17,250,000 Units at $10.00 per Unit [122]. - The underwriters are entitled to a deferred underwriting fee of $0.35 per Unit, totaling $6,037,500, payable only upon the successful completion of a Business Combination [137]. Operational Status - The company has not engaged in any operations or generated revenues to date, with all activities focused on preparing for the IPO [118]. - The company may need to obtain additional financing to complete its Business Combination or to address potential redemptions of public shares [129].