Denali Capital Acquisition Corp. Announces Extension of Deadline to Complete Business Combination
Denali Capital Acquisition Corp. (NASDAQ: DECA) has announced a one-month extension of its deadline to complete a business combination, moving from May 11, 2025, to June 11, 2025. The company has deposited $874.78 into its trust account to fund this extension through a convertible promissory note issued to Scilex Holding Company (NASDAQ: SCLX).
The note has a principal amount of up to $180,000, bears no interest, and is repayable upon either the completion of the initial business combination or company liquidation. Upon closing a business combination, Scilex can convert the note into DECA Class A ordinary shares at $10.00 per share. The remaining $57,795.52 of the note may fund future monthly extensions.
Denali Capital Acquisition Corp. (NASDAQ: DECA) ha annunciato un'estensione di un mese del termine per completare una combinazione aziendale, posticipandolo dall'11 maggio 2025 all'11 giugno 2025. La società ha depositato 874,78 dollari nel proprio conto fiduciario per finanziare questa estensione tramite una nota di debito convertibile emessa a favore di Scilex Holding Company (NASDAQ: SCLX).
La nota ha un importo principale fino a 180.000 dollari, non prevede interessi ed è rimborsabile al completamento della combinazione aziendale iniziale o in caso di liquidazione della società. Al momento della chiusura della combinazione, Scilex può convertire la nota in azioni ordinarie di Classe A di DECA al prezzo di 10,00 dollari per azione. I restanti 57.795,52 dollari della nota possono essere utilizzati per finanziare eventuali estensioni mensili future.
Denali Capital Acquisition Corp. (NASDAQ: DECA) ha anunciado una prórroga de un mes para completar una combinación empresarial, extendiendo la fecha límite del 11 de mayo de 2025 al 11 de junio de 2025. La compañía ha depositado 874,78 dólares en su cuenta fiduciaria para financiar esta extensión mediante una nota promisoria convertible emitida a Scilex Holding Company (NASDAQ: SCLX).
La nota tiene un monto principal de hasta 180.000 dólares, no genera intereses y es reembolsable al completarse la combinación empresarial inicial o en caso de liquidación de la empresa. Al cerrar una combinación empresarial, Scilex puede convertir la nota en acciones ordinarias Clase A de DECA a 10,00 dólares por acción. Los 57.795,52 dólares restantes de la nota pueden financiar futuras extensiones mensuales.
Denali Capital Acquisition Corp. (NASDAQ: DECA)는 사업 결합 완료 기한을 2025년 5월 11일에서 2025년 6월 11일로 한 달 연장했다고 발표했습니다. 회사는 이 연장을 위해 전환 사채 형태로 Scilex Holding Company (NASDAQ: SCLX)에 발행한 약속어음으로 874.78달러를 신탁 계좌에 예치했습니다.
이 약속어음의 원금은 최대 180,000달러이며, 이자는 없고 초기 사업 결합 완료 또는 회사 청산 시 상환됩니다. 사업 결합이 완료되면 Scilex는 약속어음을 주당 10.00달러에 DECA 클래스 A 보통주로 전환할 수 있습니다. 약속어음의 나머지 57,795.52달러는 향후 월별 연장 자금으로 사용될 수 있습니다.
Denali Capital Acquisition Corp. (NASDAQ : DECA) a annoncé une prolongation d'un mois de son délai pour finaliser une opération de fusion-acquisition, repoussant la date limite du 11 mai 2025 au 11 juin 2025. La société a déposé 874,78 dollars sur son compte en fiducie pour financer cette extension via une lettre de change convertible émise à Scilex Holding Company (NASDAQ : SCLX).
La lettre a un montant principal pouvant atteindre 180 000 dollars, ne porte pas d’intérêts, et est remboursable soit à la réalisation de la fusion initiale, soit en cas de liquidation de la société. Lors de la clôture de la fusion, Scilex peut convertir la lettre en actions ordinaires de classe A de DECA au prix de 10,00 dollars par action. Les 57 795,52 dollars restants de la lettre peuvent financer de futures prolongations mensuelles.
Denali Capital Acquisition Corp. (NASDAQ: DECA) hat eine einmonatige Verlängerung der Frist zur Durchführung einer Unternehmenszusammenführung bekannt gegeben, und zwar vom 11. Mai 2025 auf den 11. Juni 2025. Das Unternehmen hat 874,78 US-Dollar auf sein Treuhandkonto eingezahlt, um diese Verlängerung durch eine wandlungsfähige Schuldanerkennung zu finanzieren, die an die Scilex Holding Company (NASDAQ: SCLX) ausgegeben wurde.
Die Schuldverschreibung hat einen Nennbetrag von bis zu 180.000 US-Dollar, trägt keine Zinsen und ist entweder bei Abschluss der ursprünglichen Unternehmenszusammenführung oder bei Liquidation des Unternehmens zurückzuzahlen. Nach Abschluss einer Unternehmenszusammenführung kann Scilex die Schuldverschreibung in DECA Class A Stammaktien zu je 10,00 US-Dollar umwandeln. Die verbleibenden 57.795,52 US-Dollar der Schuldverschreibung können zur Finanzierung zukünftiger monatlicher Verlängerungen verwendet werden.
- Secured funding for deadline extension through convertible note
- No interest bearing on the promissory note
- Additional time provided to complete business combination
- Potential for future extensions with remaining note balance
- Delay in completing business combination indicates potential challenges
- Potential dilution for shareholders if note converts to shares
- Small extension amount suggests limited financial flexibility
NEW YORK, NEW YORK, May 09, 2025 (GLOBE NEWSWIRE) -- Denali Capital Acquisition Corp. (NASDAQ: DECA) (the “Company”) announced today that it has deposited into the Company’s trust account (the “Trust Account”) an aggregate of
About the Company
Denali Capital Acquisition Corp. is a blank check company incorporated as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities.
Forward-Looking Statements
This press release includes forward looking statements that involve risks and uncertainties. Forward-looking statements are subject to numerous conditions, risks and changes in circumstances, many of which are beyond the control of the Company, including those set forth in the “Risk Factors” section of the Company’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Contact Info: 646-978-3133
FAQ
What is the new deadline for Denali Capital Acquisition Corp (DECA) to complete its business combination?
How much did DECA deposit into the trust account for the deadline extension?
What are the terms of DECA's convertible promissory note with Scilex Holding Company?
How much remaining principal is available under DECA's convertible promissory note for future extensions?
