Denali Capital Acquisition Corp. Announces Pricing of $75 Million Initial Public Offering

Rhea-AI Summary

Denali Capital Acquisition Corp. (NASDAQ: DECA) has priced its initial public offering (IPO) of 7,500,000 units at $10.00 each, expected to trade under the symbol 'DECAU' from April 7, 2022. Each unit consists of one Class A ordinary share and one redeemable warrant, exercisable at $11.50 per share. The offering, which is expected to close on or around April 11, 2022, includes a 45-day option for underwriters to buy an additional 1,125,000 units. Denali Capital aims to focus its business combination efforts on the technology, hospitality, and consumer services sectors.

Positive

• Successful pricing of IPO at $10.00 per unit, indicating strong market interest.
• Potential to raise $75 million, enabling future business acquisitions.
• Focus on technology, hospitality, and consumer services sectors, which are growth areas.

Negative

• No business combination target identified yet, implying uncertainty for investors.
• Market conditions could affect successful closing of the IPO.

NEW YORK, April 6, 2022 /PRNewswire/ -- Denali Capital Acquisition Corp. (NASDAQ: DECA, the "Company") announced today that it priced its initial public offering ("IPO") of 7,500,000 units at a price of $10.00 per unit. The units have been approved for listing on The NASDAQ Global Market ("NASDAQ") and trade under the symbol "DECAU" beginning on April 7, 2022. Each unit issued in the IPO consists of one share of Class A ordinary share and one redeemable warrant, with each whole warrant exercisable to purchase one whole share of Class A ordinary share at a price of $11.50 per share. After the securities comprising the units begin separate trading, Class A ordinary shares and warrants are expected to be listed on NASDAQ under the symbols "DECA" and "DECAW", respectively. The offering is expected to close on or about April 11, 2022, subject to customary closing conditions.

The Company has granted the underwriters a 45-day option to purchase up to 1,125,000 additional units at the IPO price to cover over-allotments, if any.

US Tiger Securities, Inc. and EF Hutton, division of Benchmark Investments, LLC are acting as the joint book-running managers in the offering. Craig-Hallum Capital Group LLC is acting as qualified independent underwriter.

A registration statement relating to these securities has been filed with the Securities and Exchange Commission ("SEC") and declared effective on April 6, 2022.  A final prospectus relating to this Offering will be filed with the SEC. The offering is being made only by means of a prospectus, copies of which may be obtained, when available, by contacting US Tiger Securities, Inc., 437 Madison Avenue, 27th Floor, New York, New York 10022; email: IB@ustigersecurities.com. Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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. The Company has not selected any business combination target and have not, nor has anyone on its behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. While the Company may pursue an initial business combination target in any business or industry, it intends to focus its research on technology, hospitality and consumer services sector.

Forward Looking Statements

This press release contains 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 registration statement, as amended from time to time, and prospectus for the offering filed with the SEC. Such forward-looking statements include the successful consummation of the Company's initial public offering or exercise of the underwriters' over-allotment option. 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.

 

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SOURCE Denali Capital Acquisition Corp.

FAQ

What is the IPO price for Denali Capital Acquisition Corp. (DECAU)?

The IPO price for Denali Capital Acquisition Corp. is $10.00 per unit.

When will Denali Capital Acquisition Corp.'s IPO begin trading?

The IPO will begin trading on NASDAQ under the symbol 'DECAU' starting April 7, 2022.

How many units are being offered in Denali Capital Acquisition Corp.'s IPO?

Denali Capital Acquisition Corp. is offering 7,500,000 units in its IPO.

What sectors is Denali Capital Acquisition Corp. focusing on for future business combinations?

Denali Capital Acquisition Corp. intends to focus on technology, hospitality, and consumer services sectors.

What is the expected closing date for Denali Capital Acquisition Corp.'s IPO?

The offering is expected to close on or about April 11, 2022.