Company Overview - Denali Capital Acquisition Corp. is a blank check company incorporated in the Cayman Islands, aimed at executing a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities [8]. Business Combination Extension - The Company announced that shareholders voted in favor of extending the deadline for consummating an initial business combination from July 11, 2024, to April 11, 2025, allowing for monthly extensions up to nine times [7]. - To facilitate this extension, the Company deposited $15,063.74 into its trust account, which represents the lesser of $20,000 or $0.02 per public share that remains outstanding and is not redeemed prior to the one-month extension [4]. Financial Arrangements - The deposit was funded through a convertible promissory note with a principal amount of up to $180,000 issued to the Sponsor, which bears no interest and is repayable upon the consummation of the initial business combination or liquidation of the Company [4]. - The note can be converted into the Company's Class A ordinary shares at a conversion price of $10.00 per share at the Sponsor's discretion [4].
Denali Capital Acquisition Corp. Announces Shareholder Approval of Extension of Deadline to Complete Business Combination