Battery maker ProLogium to list on Nasdaq in $3.8 billion SPAC deal
Battery maker ProLogium to list on Nasdaq in $3.8 billion SPAC deal
ReutersWed, May 27, 2026 at 12:08 PM UTC
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1 / 0FILE PHOTO: FPC Lithium Ceramic Battery is on display at Taiwanese EV battery maker ProLogium's showroom in TaoyuanFILE PHOTO: FPC Lithium Ceramic Battery is on display at Taiwanese EV battery maker ProLogium's showroom in Taoyuan, Taiwan January 23, 2024. REUTERS/Ann Wang/File Photo
May 27 (Reuters) - 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.
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• 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.
(Reporting by Arasu Kannagi Basil in Bengaluru; Editing by Vijay Kishore)
Source: “AOL Money”
