Translational Development Acquisition, Prologium Secure $50 Million Primary Capital Investment
MT Newswires Live
Jul 28
Translational Development Acquisition (TDAC) and ProLogium Holding secured commitments for a $50 million primary capital investment from a consortium of existing ProLogium shareholders to support their previously announced merger, the companies said Tuesday.
The commitments are part of a broader capital raise tied to the merger transaction, according to the statement.
Prologium expects to use the proceeds to scale its lithium ceramic battery production, advance construction of its planned gigafactory in Dunkirk, France, and fund its expansion into adjacent applications, including data centers, aerospace and robotics, according to the statement.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.