ProLogium to list on Nasdaq in $3.8 billion SPAC merger

Taiwanese battery maker ProLogium Technology will go public in New York through a $3.8 billion merger with blank-check company Translational Development Acquisition Corp, giving it capital to scale production of fourth-generation solid-state batteries and build a gigafactory in France.

The deal will provide ProLogium with funds to expand into growth markets including data centers, aerospace, robotics and defense, the companies said Wednesday. ProLogium, founded in 2006, makes lithium ceramic batteries for electric vehicles and has shipped more than 2.4 million battery cells to customers since 2013.

Construction at ProLogium's planned gigafactory in Dunkirk, France, is expected to begin later this year, followed by formal mass production and deliveries in the second quarter of 2029. The facility represents a key step in the company's push to commercialize solid-state technology, which promises higher energy density and improved safety compared with conventional lithium-ion cells.

The combined company will list on the Nasdaq under the ticker symbol PRLG, with the transaction expected to close in the second half of 2026. Cohen & Company Markets advised ProLogium on the deal, while BTIG advised TDAC. Crédit Agricole Corporate and Investment Bank acted as placement agent to ProLogium.

ProLogium joins a small group of battery technology companies pursuing public listings to fund solid-state production, a segment that has attracted significant investment from automakers and venture capital firms betting on a post-lithium-ion future. The company's ability to deliver on its 2029 production timeline will be closely watched by investors tracking the EV supply chain's next technological shift.

This article is for informational purposes only and does not constitute investment advice.