Nasdaq Initiates Removal of Denali Capital Acquisition Securities

Rhea-AI Filing Summary

Denali Capital Acquisition Corp. (Nasdaq: DECAU) has filed Form 25 with the U.S. Securities and Exchange Commission, signaling the removal of its Class A Ordinary Shares, Units and Warrants from listing and registration on the Nasdaq Stock Market LLC.

The filing, dated 14 July 2025 and signed by a Nasdaq Hearings Advisor, states that the Exchange "has complied with its rules to strike the class of securities from listing and/or withdraw registration." The notice cites Rule 12d2-2 under the Securities Exchange Act of 1934, indicating that the procedural requirements for delisting or voluntary withdrawal have been satisfied.

No financial metrics, earnings data, or reasons for the delisting are provided in the document. The Form 25 serves as official notification that, once effective, the securities will no longer be traded on Nasdaq or registered under Section 12(b) of the Exchange Act.

Positive

• None.

Negative

• Nasdaq has filed Form 25 to strike Denali Capital Acquisition Corp.’s Class A Ordinary Shares, Units and Warrants from listing and registration, eliminating their exchange listing.

Insights

Equity Market Specialist

TL;DR: Nasdaq’s Form 25 filing removes DECAU securities, eliminating exchange listing and Section 12(b) registration.

The submission of Form 25 is a material corporate event because it terminates Denali Capital Acquisition Corp.’s exchange listing for its shares, units and warrants. Without a Nasdaq listing, the securities lose the liquidity, visibility, and regulatory framework that an exchange provides. The document offers no rationale—whether involuntary delisting for non-compliance or voluntary withdrawal, so investors have limited context. Nonetheless, delisting typically restricts trading to less regulated venues and increases transaction costs and bid-ask spreads. From a governance standpoint, removing Section 12(b) registration also relaxes ongoing reporting obligations after a transition period. Overall, the filing is negative for shareholders due to diminished market access and potential valuation pressure.

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

333-263123

Issuer:	Denali Capital Acquisition Corp.
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	960 San Antonio Road
	Palo Alto	CALIFORNIA	94303
Telephone number:					3,473,222,003

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Class A Ordinary Shares, Units, Warrants

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2025-07-14	By	Aravind Menon		Hearings Advisor
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What action did Nasdaq take regarding Denali Capital Acquisition Corp. (DECAU)?

Nasdaq filed Form 25 to remove DECAU’s Class A Ordinary Shares, Units and Warrants from listing and registration.

Which securities are affected by the DECAU Form 25 filing?

Class A Ordinary Shares, Units and Warrants of Denali Capital Acquisition Corp. are covered by the filing.

When was the Form 25 for DECAU signed?

The document was signed on 14 July 2025.

Who signed the Form 25 on behalf of Nasdaq?

The filing was signed by Aravind Menon, Hearings Advisor.

Does the filing provide reasons for DECAU’s delisting?

No. The Form 25 only confirms compliance with Nasdaq and SEC rules; it does not disclose the specific reason for delisting.