Denali Capital Acquisition Corp. Announces Extension of Deadline to Complete Business Combination

Rhea-AI Summary

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.

Positive

• Denali Capital extended its deadline for business combination, allowing more time for potential opportunities.
• The company secured $50,000 for the extension, indicating financial preparedness.

Negative

• The need for an extension may suggest delays or challenges in finalizing the business combination.
• Frequent extensions might indicate potential issues in identifying or closing on a target company.

NEW YORK, NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) --  Denali Capital Acquisition Corp. (NASDAQ: DECA) (the “Company”) announced today that an aggregate of $50,000 has been deposited into the Company’s trust account to further extend the period of time the Company has to consummate its business combination by an additional month from June 11, 2024 to July 11, 2024 in accordance with the amended terms of the Company’s amended and restated memorandum and articles of association.

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

FAQ

What did Denali Capital Acquisition Corp. announce on June 11, 2024?

Denali Capital Acquisition Corp. announced a $50,000 deposit to extend the deadline for its business combination to July 11, 2024.

Why did Denali Capital Acquisition Corp. deposit $50,000 into its trust account?

The $50,000 deposit was made to extend the deadline for completing its business combination by one month.

What is the new deadline for Denali Capital Acquisition Corp.'s business combination?

The new deadline for Denali Capital Acquisition Corp.'s business combination is July 11, 2024.

What is Denali Capital Acquisition Corp.'s stock symbol?

Denali Capital Acquisition Corp.'s stock symbol is DECA.

How does the extension of the business combination deadline affect DECA?

The extension provides more time to finalize a business combination, potentially impacting DECA's stock price based on investor reactions.