Denali Capital Acquisition Corp. and Longevity Biomedical, Inc. Mutually Agreed to Terminate the Business Combination

Rhea-AI Summary

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.

Positive

• None.

Negative

• Termination of business combination agreement may delay Denali's plans for growth.
• Potential uncertainty in alternative business combination search could impact investor confidence.

NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Denali Capital Acquisition Corp. (NASDAQ: DECA) ("Denali" or the "Company") announced today that Denali and Longevity Biomedical, Inc. have mutually agreed to terminate their previously announced business combination agreement (the “Business Combination Agreement”).  The Company and its sponsor intend to seek alternative ways to consummate an initial business combination.

About Denali Capital Acquisition Corp.

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 prospectus for its initial public offering filed with the SEC. 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.

FAQ

What is the latest update on Denali Capital Acquisition Corp. (DECA) and Longevity Biomedical?

Denali Capital Acquisition Corp. (DECA) has mutually agreed with Longevity Biomedical to terminate their business combination agreement.

Why did Denali Capital Acquisition Corp. (DECA) terminate its business combination with Longevity Biomedical?

Denali Capital Acquisition Corp. and Longevity Biomedical mutually agreed to terminate the agreement without specifying reasons.

What are the future plans for Denali Capital Acquisition Corp. (DECA) after terminating its agreement with Longevity Biomedical?

Denali Capital Acquisition Corp. and its sponsor plan to seek alternative ways to consummate an initial business combination.

How might the termination of the business combination agreement affect Denali Capital Acquisition Corp. (DECA)?

The termination may delay Denali's plans for growth and create uncertainty as they seek alternative business combinations.