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.
Denali Capital Acquisition Corp. (Nasdaq: DECA) is a blank check company, formed as a Cayman Islands exempted company. Its primary goal is to effect a merger, capital stock exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. As a Special Purpose Acquisition Company (SPAC), Denali Capital Acquisition Corp. seeks to identify and partner with companies to help them become publicly traded entities.
Recently, Denali Capital Acquisition Corp. announced a change in the schedule of its extraordinary general meeting (the 'Shareholder Meeting'). Initially planned for January 4, 2024, the meeting has been postponed to January 9, 2024. The venue remains unchanged - the offices of US Tiger Securities, Inc. on Madison Avenue, New York, and it will also be accessible virtually via live webcast. This postponement also extends the deadline for shareholders to submit redemption requests to January 5, 2024.
Denali Capital Acquisition Corp. continues to solicit proxies from its shareholders to ensure participation in the Shareholder Meeting. The meeting aims to discuss and vote on various proposals crucial for the company's strategic direction. Shareholders of record as of December 14, 2023, are entitled to vote.
The company's directors and certain executive officers are actively involved in the solicitation of proxies for the Shareholder Meeting. Detailed information about the participants and their interests is available in the definitive proxy statement filed with the SEC on December 15, 2023. Investors and security holders are encouraged to read the proxy statement carefully, as it contains significant information regarding the meeting and the proposals to be voted on.
For further details and to access the definitive proxy statement and other relevant documents, investors can visit the SEC's website or contact the company's proxy solicitor, Advantage Proxy, Inc.
Denali Capital Acquisition Corp. (NASDAQ: DECA) has announced a one-month extension of its deadline to complete a business combination, extending from December 11, 2024, to January 11, 2025. The company has deposited $15,063.74 into its trust account to fund this extension. The deposit was financed through a convertible promissory note issued to Scilex Holding Company with a maximum principal amount of $180,000. The note is interest-free and convertible into DECA's Class A ordinary shares at $10.00 per share upon closing of a business combination. The remaining $104,708.30 of the note may be used for future monthly extensions if needed.
Denali Capital Acquisition Corp. (NASDAQ: DECA) has announced a one-month extension for completing its business combination, extending the deadline from November 11, 2024, to December 11, 2024. The company has deposited $15,063.74 into its trust account to fund this extension. The deposit was funded through a $180,000 convertible promissory note issued to Scilex Holding Company, with $119,772.04 remaining available for future extensions. The note is interest-free and convertible into DECA's Class A ordinary shares at $10.00 per share upon closing of a business combination.
Denali Capital Acquisition Corp. (NASDAQ: DECA) has announced a one-month extension of its deadline to complete a business combination, from September 11, 2024, to October 11, 2024. To fund this extension, the company has deposited $15,063.74 into its trust account. This 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 $149,899.52 of the note may be used for future one-month extensions if needed. This move provides DECA with additional time to finalize a potential business combination.
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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