Denali Capital Acquisition Corp. Maneuvers for Business Combination

Denali Capital Acquisition Corp. Class A (DECA) has shared an update.

Denali Capital Acquisition Corp. issued a convertible promissory note to its sponsor, Denali Capital Global Investments LLC, for up to $180,000, to extend the timeframe for completing a business combination, with provisions for converting the note into shares upon a successful deal. Shareholders approved an amendment allowing the company to extend the deadline for a business combination up to nine times, depositing funds into a trust account for each extension. Shareholders redeemed a substantial number of shares, leaving the company with fewer outstanding public shares.

For an in-depth examination of DECA stock, go to TipRanks’ Stock Analysis page.