Denali Capital: Extends Deadline for Business Combination
Deal News | Mar 11, 2025 | EIN
Denali Capital Acquisition Corp., a blank check company listed on NASDAQ, announced the extension of its deadline to complete a business combination from March 11, 2025, to April 11, 2025. This extension was funded by a convertible promissory note with a principal amount of up to $180,000, issued by Scilex Holding Company. The note is convertible into Denali's Class A ordinary shares at Scilex's discretion, with a conversion price of $10.00 per share. The funds are deposited into Denali's trust account to facilitate this extension, providing the company with additional time to finalize a suitable business merger or acquisition. Additionally, Denali Capital Acquisition emphasized the risks involved with forward-looking statements, recommending investors refer to its SEC filings for more details.
Sectors
- Finance
- Investment
Geography
- United States – Denali Capital and Scilex Holding Company are based in the U.S., and the NASDAQ listing is relevant to the American stock market.
- Cayman Islands – Denali Capital Acquisition Corp. is incorporated in the Cayman Islands.
Industry
- Finance – The article relates to financial activities, particularly in mergers, acquisitions, and blank check companies known as SPACs.
- Investment – Denali Capital Acquisition is a special purpose acquisition company focused on investing and merging with other businesses.
Financials
- $180,000 – Total principal amount of the convertible promissory note issued by Scilex to Denali Capital.
- $15,063.74 – Amount deposited for the one-month extension of the business combination deadline.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Denali Capital Acquisition Corp. | Target | Company | A blank check company aiming to merge or acquire other businesses. |
| Scilex Holding Company | Bidding Company/Buyer | Company | Provider of convertible promissory note funding to Denali Capital. |