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, 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.
Denali Capital Acquisition Corp. (NASDAQ: DECA) ha annunciato un'estensione di un mese della sua scadenza per completare una combinazione aziendale, da settembre 11, 2024, a ottobre 11, 2024. Per finanziare questa estensione, l'azienda ha depositato $15,063.74 nel suo conto fiduciario. Questo deposito è stato finanziato attraverso una cambiale convertibile emessa a favore di Scilex Holding Company (NASDAQ: SCLX) con un importo principale di fino a $180,000.
La cambiale è priva di interessi e può essere convertita in azioni ordinarie di classe A di DECA a $10.00 per azione al momento della chiusura di una combinazione aziendale. Il restante $149,899.52 della cambiale può essere utilizzato per future estensioni di un mese se necessario. Questa mossa fornisce a DECA ulteriore tempo per finalizzare una potenziale combinazione aziendale.
Denali Capital Acquisition Corp. (NASDAQ: DECA) ha anunciado una extensión de un mes de su plazo para completar una combinación empresarial, del 11 de septiembre de 2024 al 11 de octubre de 2024. Para financiar esta extensión, la empresa ha depositado $15,063.74 en su cuenta fiduciaria. Este depósito se financió a través de una nota promisoria convertible emitida a Scilex Holding Company (NASDAQ: SCLX) con un monto principal de hasta $180,000.
La nota no tiene intereses y se puede convertir en acciones ordinarias de clase A de DECA a $10.00 por acción al cerrar una combinación empresarial. El resto de $149,899.52 de la nota se puede utilizar para futuras extensiones de un mes, si es necesario. Este movimiento le proporciona a DECA tiempo adicional para finalizar una posible combinación empresarial.
Denali Capital Acquisition Corp. (NASDAQ: DECA)는 비즈니스 조합을 완료하기 위한 기한을 2024년 9월 11일부터 2024년 10월 11일까지로 한 달 연장한다고 발표했습니다. 이 연장을 위해 회사는 신탁 계좌에 $15,063.74를 입금했습니다. 이 예치금은 Scilex Holding Company (NASDAQ: SCLX)에 발행된 전환 가능 지불 약속어음을 통해 자금이 조달되었습니다. 약속어음의 원금은 최대 $180,000입니다.
이 약속어음은 무이자이며 비즈니스 조합이 성사될 경우 $10.00 정가로 DECA의 A 주식으로 전환할 수 있습니다. 약속어음의 나머지 $149,899.52는 필요할 경우 향후 한 달 연장에 사용할 수 있습니다. 이 조치는 DECA가 잠재적인 비즈니스 조합을 마무리짓기 위한 추가 시간을 제공합니다.
Denali Capital Acquisition Corp. (NASDAQ: DECA) a annoncé une prolongation d'un mois de son délai pour finaliser une combinaison d'activités, du 11 septembre 2024 au 11 octobre 2024. Pour financer cette prolongation, la société a déposé $15,063.74 sur son compte fiduciaire. Ce dépôt a été financé par une note de prêt convertible émise à Scilex Holding Company (NASDAQ: SCLX) d'un montant principal pouvant atteindre $180,000.
La note est sans intérêt et peut être convertie en actions ordinaires de classe A de DECA à $10.00 par action lors de la clôture d'une combinaison d'activités. Le reste de $149,899.52 de la note peut être utilisé pour de futures prolongations d'un mois si nécessaire. Ce mouvement offre à DECA plus de temps pour finaliser une possible combinaison d'activités.
Denali Capital Acquisition Corp. (NASDAQ: DECA) hat eine einmonatige Verlängerung seiner Frist bekannt gegeben, um eine Unternehmenszusammenschluss zu vollziehen, von 11. September 2024 auf 11. Oktober 2024. Um diese Verlängerung zu finanzieren, hat das Unternehmen $15,063.74 auf seinem Treuhandkonto hinterlegt. Diese Einlage wurde durch eine an Scilex Holding Company (NASDAQ: SCLX) ausgegebene konvertierbare Schuldverschreibung mit einem Nennbetrag von bis zu $180,000 finanziert.
Die Schuldverschreibung ist zinslos und kann bei Abschluss eines Unternehmenszusammenschlusses in DECA's Stammaktien der Klasse A zu $10.00 pro Aktie umgewandelt werden. Der verbleibende Betrag von $149,899.52 der Schuldverschreibung kann bei Bedarf für zukünftige einmonatige Verlängerungen verwendet werden. Dieser Schritt gibt DECA zusätzliche Zeit, um eine potenzielle Unternehmenszusammenschluss abzuschließen.
- Extension provides more time to complete a business combination
- Funding secured without immediate cash outlay through convertible note
- Potential for future extensions with remaining note balance
- Delay in completing business combination may indicate difficulties
- Potential dilution for existing shareholders if note is converted
- Additional costs incurred for extension
NEW YORK, NEW YORK, Sept. 11, 2024 (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.
FAQ
What is the new deadline for Denali Capital Acquisition Corp (DECA) to complete its business combination?
How much did DECA deposit into its trust account for the extension?
Who provided the funding for DECA's extension?
What are the terms of the convertible promissory note issued by DECA?
