Denali Capital Acquisition Extends Business Combination Deadline by One Month

Denali Capital Acquisition Corp. (NASDAQ: DECAU) has recently made a strategic financial move by depositing $15,036.74 into the Trust Account. This deposit aims to extend the time available for the company to finalize a business combination. The initial deadline of January 11, 2025, has now been extended by one month to February 11, 2025. This announcement was made through a press release issued by Denali Capital Acquisition Corp. on January 8, 2025.

The company funded this deposit through a convertible promissory note with a principal amount of up to $180,000 issued to Scilex Holding Company (Nasdaq: SCLX). This note, bearing no interest, is repayable upon the completion of the business combination or the company’s liquidation. In the event of a business combination, the note may be converted, at Scilex’s discretion, into Denali Capital Acquisition Corp.’s Class A ordinary shares at a conversion price of $10.00 per share.

Denali Capital Acquisition Corp., established as a blank check company incorporated in the Cayman Islands, is focused on facilitating mergers, share exchanges, asset acquisitions, and similar business combinations with one or multiple entities.

The press release includes forward-looking statements that acknowledge the risks and uncertainties involved in such financial transactions. The company recognizes the conditions beyond its control and highlights the importance of understanding the risk factors associated with its operations. Denali Capital Acquisition Corp. emphasizes its commitment to keeping stakeholders informed about any updates or revisions to the forward-looking statements.

The move to extend the business combination deadline underscores the company’s dedication to exploring beneficial opportunities and ensuring due diligence in the merger process. As the deadline extension provides additional time, Denali Capital Acquisition Corp. is positioned to carefully evaluate potential business combinations and make informed decisions for the company’s future growth and success.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Denali Capital Acquisition’s 8K filing here.

About Denali Capital Acquisition

Denali Capital Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other business combination with one or more businesses. It intends to complete a business combination with companies primarily operating in the technology, consumer services, and hospitality sectors.