Black Titan Corp Soars 138% in Nasdaq Debut After Titan–TalenTec Reverse Merger

Introduction

Black Titan Corporation is an exempted company limited by shares under the laws of the Cayman Islands. It was formed as the holding company to effect the business combination of Titan Pharmaceuticals, Inc. (NASDAQ: TTNP) and TalenTec Sdn. Bhd. Following regulatory approvals and stockholder consent, Black Titan Corporation began trading on the Nasdaq Stock Market under the ticker BTTC on October 2, 2025.

Corporate Structure

The company serves as the parent entity for the combined operations of Titan Pharmaceuticals, a New York-based developer of controlled-release drug delivery systems, and TalenTec, a Malaysia-incorporated technology developer. Its ordinary shares carry a par value of $0.0001 each. Black Titan Corporation registered its securities under Section 12(b) of the Securities Exchange Act via Form 8-A12B on September 30, 2025 (Registration No. 333-287709), facilitating its Nasdaq listing.

Pharmaceutical Merger by Michał Parzuchowski

Recent Developments

On June 3, 2025, Black Titan Corporation filed a registration statement on Form F-4 with the U.S. Securities and Exchange Commission, which included a preliminary proxy statement for the proposed reverse merger transaction. Titan Pharmaceuticals held a special meeting of stockholders on August 26, 2025, to approve the Merger and Contribution and Share Exchange Agreement and the issuance of Black Titan ordinary shares under Nasdaq Listing Rule 5635. The Form F-4 became effective on September 29, 2025, followed by the effectiveness of the Form 8-A12B registration on September 30, 2025. The business combination was officially closed on October 1, 2025.

Financial and Strategic Analysis

Black Titan Corporation’s ordinary shares opened at $11.00 on October 2, 2025, representing a 138.61% increase over the reference price, with 123,619 shares traded on the first day. The reverse merger structure allowed TalenTec, a private company, to access public markets without undergoing a traditional IPO, while Titan Pharmaceuticals integrated TalenTec’s product pipeline and regional presence. Key factors for future performance include the integration of operations, identification of cost and revenue synergies, and progress in obtaining regulatory approvals for the combined entity’s drug delivery programs.

Market Position and Industry Context

The combined company operates within the pharmaceutical and biotechnology sector, focusing on controlled-release formulations and novel therapeutic platforms. Listing on Nasdaq is expected to enhance the company’s visibility among institutional and retail investors while improving liquidity. Compliance with SEC disclosure requirements and Nasdaq governance rules will be crucial as Black Titan Corporation engages in equity offerings, forges strategic partnerships, and pursues clinical milestones to support long-term growth.

TL;DR

• The business combination of Titan Pharmaceuticals and TalenTec closed on October 1, 2025, creating Black Titan Corporation (NASDAQ: BTTC).
• Trading began on October 2, 2025, at $11.00 per share—a 138.61% increase over the reference price—on trading volume of 123,619 shares.
• The merger leveraged a Form F-4 registration effective September 29, 2025, and the company’s Form 8-A12B became effective on September 30, 2025.
• Future value creation depends on integrating TalenTec’s operations and advancing the combined pharmaceutical pipeline through regulatory and clinical milestones.