Welcome to our dedicated page for Denali Capital Acquisition news (Ticker: DECA), a resource for investors and traders seeking the latest updates and insights on Denali Capital Acquisition stock.
News for Denali Capital Acquisition Corp. (NASDAQ: DECA) centers on its activities as a blank check company incorporated as a Cayman Islands exempted company. Public announcements emphasize its efforts to manage the timeline for completing an initial business combination through shareholder approvals, trust account funding, and financing arrangements.
A recurring theme in DECA’s news releases is the extension of the deadline to consummate its initial business combination. The company reports making deposits into a designated trust account to fund one-month extensions, each time specifying the period covered and the aggregate amount deposited. These updates provide insight into how the company is using its trust structure to maintain flexibility as it pursues a potential business combination.
Another key news focus is the convertible promissory note issued to Scilex Holding Company. DECA’s announcements describe how this note, with a stated principal amount up to a defined limit, bears no interest and is repayable upon the consummation of a business combination or liquidation. The company also highlights that, upon closing a business combination, the note may be converted into Class A ordinary shares at a specified conversion price, at Scilex’s discretion.
News items also cover shareholder meetings and governance events, including extraordinary general meetings convened to vote on amendments extending the business combination deadline. These releases may describe adjournments and reconvened meetings intended to give shareholders more time to consider proposals outlined in a definitive proxy statement filed with the SEC.
Investors and observers tracking DECA’s news can follow updates on extension decisions, trust account deposits, shareholder approvals, and references to related SEC filings. These disclosures collectively outline the company’s progress and decision points as it works within its approved framework to complete an initial business combination or consider alternatives if that objective is not achieved.
Semnur Pharmaceuticals, a subsidiary of Scilex Holding Company (Nasdaq: SCLX), and Denali Capital Acquisition Corp. (Nasdaq: DECA) have signed a merger agreement for a proposed business combination. The deal values Semnur at $2.5 billion pre-transaction. The merger aims to create a publicly traded biopharma company focused on developing SP-102 (SEMDEXA™), a non-opioid treatment for sciatica with FDA Fast Track status. Projected annual sales for SEMDEXA™ are estimated at $1.5-$2.0 billion by the 5th year of launch. The transaction is expected to close by Q1 2025, with Scilex retaining majority ownership. The combined company will be renamed Semnur Pharmaceuticals, Inc., with its stock and warrants listed on Nasdaq under 'SMNR' and 'SMNRW'.
Denali Capital Acquisition Corp. (NASDAQ: DECA) has announced a one-month extension for completing its business combination, moving the deadline from August 11, 2024, to September 11, 2024. To fund this extension, the company deposited $15,063.74 into its trust account. The deposit was financed through a convertible promissory note issued to Scilex Holding Company (NASDAQ: SCLX) with a principal amount of up to $180,000. The note is interest-free and convertible into DECA's Class A ordinary shares at $10.00 per share upon closing a business combination. The remaining $164,963.26 of the note may be used for future extensions if needed.
Denali Capital Acquisition Corp. (NASDAQ: DECA) announced that shareholders have approved amendments to extend the deadline for completing a business combination from July 11, 2024, to April 11, 2025. The extension is set on a monthly basis, up to nine times, each by an additional month. The Company has deposited $15,063.74 into its trust account to fund the one-month extension to August 11, 2024, through a convertible promissory note with a principal amount up to $180,000 from the Sponsor. This note bears no interest and is repayable either upon a business combination's completion or the company's liquidation. Upon a successful business combination, the note can convert into Class A ordinary shares at $10.00 per share. Future drawdowns will likely fund subsequent one-month extensions. A detailed voting result will be filed with the SEC in a Current Report on Form 8-K.
Denali Capital Acquisition Corp. (NASDAQ: DECA) and Longevity Biomedical, Inc. have mutually decided to terminate their previously announced business combination agreement. This decision, announced on June 27, 2024, reflects a strategic shift for both parties. Denali, along with its sponsor, is now focusing on exploring alternative avenues to complete an initial business combination.
Denali Capital Acquisition Corp. (NASDAQ: DECA) announced the mutual termination of its business combination agreement with Longevity Biomedical, Inc. The decision was reached amicably by both parties. Moving forward, Denali, along with its sponsor, plans to explore other avenues for completing an initial business combination.
Denali Capital Acquisition Corp. (NASDAQ: DECA) announced on June 11, 2024, that it has deposited $50,000 into its trust account. This deposit extends the deadline for completing its business combination by one month, from June 11, 2024, to July 11, 2024. The extension aligns with the amended terms of the company's memorandum and articles of association.
Denali Capital Acquisition Corp. (DECA) has extended the deadline for completing its business combination by depositing $50,000 into its trust account, pushing the deadline to June 11, 2024. This move is in line with the amended terms of the Company's memorandum and articles of association.
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