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Stock Markets May 27, 2026 08:12 AM

ProLogium to List on Nasdaq via $3.8 Billion SPAC Merger, Plans European Gigafactory

Taiwanese solid-state battery maker secures capital for fourth-generation cells and a Dunkirk manufacturing site as it prepares to trade under PRLG

By Leila Farooq TDAC

ProLogium Technology, a Taiwanese maker of lithium ceramic batteries, will become a publicly listed company in New York after agreeing to merge with SPAC Translational Development Acquisition Corp in a transaction valuing the combined entity at $3.8 billion. The funding is earmarked to scale production of fourth-generation solid-state batteries and to build a new gigafactory in Dunkirk, France, with construction slated to begin in late 2026 and mass deliveries targeted for the second quarter of 2029. The deal is expected to close in the second half of 2026 and the combined company will trade on Nasdaq as PRLG.

ProLogium to List on Nasdaq via $3.8 Billion SPAC Merger, Plans European Gigafactory
TDAC

Key Points

  • ProLogium will go public through a merger with Translational Development Acquisition Corp (TDAC) in a $3.8 billion deal, with the combined company to trade on Nasdaq as PRLG.
  • Proceeds are earmarked to scale fourth-generation solid-state battery production and to build a new gigafactory in Dunkirk, France, where construction is planned to start later in 2026 and mass production/deliveries are targeted for Q2 2029.
  • The company intends to expand the application of its lithium ceramic batteries into sectors such as data centers, aerospace, robotics and defense, in addition to electric vehicles.

ProLogium Technology, a Taiwanese developer of lithium ceramic batteries for electric vehicles, is set to enter the U.S. public markets through a merger with blank-check company Translational Development Acquisition Corp (TDAC) in a $3.8 billion transaction announced on Wednesday.

The transaction will provide ProLogium with capital intended to accelerate volume manufacturing of its fourth-generation solid-state battery technology and to finance the construction of a new gigafactory located in Dunkirk, France.

Company statements set a timetable for the Dunkirk project that calls for construction to begin later in 2026. Formal mass production and the start of deliveries from that site are projected for the second quarter of 2029.

Founded in 2006, ProLogium has developed lithium ceramic batteries and reports having shipped more than 2.4 million battery cells to customers since 2013. The merger will take place via a special purpose acquisition company, a type of shell vehicle that raises capital through an initial public offering and then combines with a private company to effectuate a public listing without a traditional IPO.

Under the terms announced, the combined company is expected to list on the Nasdaq exchange under the ticker symbol "PRLG." The transaction is anticipated to be completed in the second half of 2026, subject to customary closing conditions.

Financial and advisory roles on the deal were specified: Cohen & Company Markets acted as advisor to ProLogium, BTIG advised TDAC, and Crédit Agricole Corporate and Investment Bank served as placement agent to ProLogium.

What the transaction covers

  • Funding to scale production of ProLogium's fourth-generation solid-state batteries.
  • Financing and construction of a new gigafactory in Dunkirk, France, with construction start targeted for late 2026 and mass production/deliveries in Q2 2029.
  • Support for market expansion into segments identified by the company, including data centers, aerospace, robotics and defense.

Corporate and market mechanics

  • The transaction is structured as a merger with a SPAC, allowing ProLogium to become publicly traded in New York.
  • The combined firm will list on Nasdaq under the symbol PRLG if the deal closes, which is expected in the second half of 2026.

Risks

  • Timing and execution risk tied to the Dunkirk gigafactory - construction is expected to start later in 2026 with mass production and deliveries projected for the second quarter of 2029, which could affect scaling plans if delayed (impacts manufacturing and EV supply chains).
  • Deal closing uncertainty - the merger is expected to close in the second half of 2026 and is subject to customary closing conditions, which introduces transaction risk for investors and stakeholders (impacts public markets and investor sentiment).
  • Market and product adoption risk in new end markets - plans to expand into data centers, aerospace, robotics and defense depend on commercial traction for ProLogium's fourth-generation solid-state batteries (impacts multiple technology and industrial sectors).

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