Translational Development Acquisition Corp-A(TDAC) - 2025 Q2 - Quarterly Report

Financial Performance - For the three months ended June 30, 2025, the company reported a net income of $1,623,342, primarily from dividends earned on marketable securities held in the Trust Account amounting to $1,844,469, offset by general and administrative costs of $221,127[129]. - For the six months ended June 30, 2025, the company achieved a net income of $3,106,416, with dividends from marketable securities totaling $3,674,951, while general and administrative costs were $568,535[129]. Investments and Trust Account - As of June 30, 2025, the company had investments of $178,025,297 held in the trust account, with no withdrawals of interest earned from the trust account[135]. - Following the IPO, $174,225,000 was placed in the trust account, representing net proceeds from the sale of Units and Private Placement Warrants[133]. Initial Public Offering - 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[132]. Going Concern and Business Combination - As of June 30, 2025, the company had cash of $35,255 and a working capital deficit of $128,605, raising concerns about its ability to continue as a going concern[140]. - The company has until June 24, 2026, to complete its initial Business Combination, or it will face automatic winding up and liquidation[143]. - The company intends to use substantially all funds in the Trust Account to complete its Business Combination and may need additional financing if significant public shares are redeemed[136]. - The company does not anticipate needing to raise additional funds for operating expenditures but may require financing for the Business Combination[139]. Debt and Financing - The company has no long-term debt or off-balance sheet financing arrangements as of June 30, 2025[145].