Taiwanese battery maker ProLogium Technology will go public in New York through a merger with blank-check vehicle Translational Development Acquisition Corp in a $3.8 billion deal, the companies announced on Wednesday.
Here are some details of the deal:
- The deal will provide ProLogium with funds to scale the production of its fourth-generation solid-state batteries and the construction of its new gigafactory in Dunkirk, France.
- It will also allow ProLogium to expand into growth markets such as data centers, aerospace, robotics and defense.
- Construction at ProLogium’s Dunkirk facility is expected to begin later in 2026, followed by formal mass production and deliveries in the second quarter of 2029.
- Founded in 2006, ProLogium makes lithium ceramic batteries for electric vehicles, and has shipped over 2.4 million battery cells to customers since 2013.
- A SPAC is a shell company that raises money through an IPO to merge with a private business, allowing it to go public without a traditional IPO.
- The deal is expected to close in the second half of 2026. The combined company will be listed on the Nasdaq under the ticker symbol “PRLG”.
- Cohen & Company Markets advised ProLogium on the deal, while BTIG advised TDAC. Crédit Agricole Corporate and Investment Bank acted as the placement agent to ProLogium.
