Translational Development Acquisition Corp-A(TDAC) - 2025 Q3 - Quarterly Report

Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $1,660,122, primarily from dividends and interest earned on marketable securities held in the Trust Account of $1,873,780, offset by general and administrative costs of $213,658[129]. - For the nine months ended September 30, 2025, the company achieved a net income of $4,766,538, with dividends and interest from marketable securities totaling $5,674,077, while general and administrative costs were $782,193 and unrealized losses on marketable securities were $125,346[130]. Trust Account and Investments - As of September 30, 2025, the company had investments of $179,899,077 held in the Trust Account, with no withdrawals of interest earned from the Trust Account[136]. - Following the IPO, $174,225,000 was placed in the Trust Account, amounting to $10.10 per Unit[134]. 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[133]. Going Concern and Business Combination - As of September 30, 2025, the company had cash of $47,150 and a working capital deficit of $342,263, raising concerns about its ability to continue as a going concern[142]. - 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[137]. Financing Arrangements - The company has entered into a non-interest bearing promissory note with the Sponsor for up to $2,000,000, due upon the closing of a Business Combination[139]. - The underwriters are entitled to a deferred underwriting fee of $0.35 per Unit, totaling $6,037,500, payable only if the company completes a Business Combination[147].