ProLogium Technology Co., Ltd.: ProLogium and Translational Development Acquisition Corp. Announce $50 Million Committed Primary Capital Investment to Support Proposed Business Combination
ProLogium and Nasdaq-listed SPAC TDAC said they secured commitments for a $50 million primary capital investment from existing ProLogium shareholders at a pre-money valuation of about $3.8 billion to support their proposed business combination. Proceeds are earmarked for scaling next-generation lithium ceramic batteries and building a Dunkirk, France gigafactory, alongside a French subsidy package up to €1.375 billion.