Denali Capital AcquisitionNASDAQ: DECA

PALO ALTO, Calif., July 02, 2024 (GLOBE NEWSWIRE) -- Semnur Pharmaceuticals, Inc. (“Semnur”), a wholly owned subsidiary of Scilex Holding Company (Nasdaq: SCLX, “Scilex”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, and Denali Capital Acquisition Corp., a Cayman Islands corporation and special purpose acquisition company (Nasdaq: DECA, “SPAC”), today announced the signing of a letter of intent for a proposed business combination, which provides for a pre-transaction equity value of Semnur up to $2.0 billion, subject to adjustment based on third-party fairness opinion, with expected gross proceeds of up to $40 million depending on the number of SPAC shares that are redeemed prior to the completion of the business combination.

NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Denali Capital Acquisition Corp. (NASDAQ: DECA) ("Denali" or the "Company") announced today that Denali and Longevity Biomedical, Inc. have mutually agreed to terminate their previously announced business combination agreement (the “Business Combination Agreement”).  The Company and its sponsor intend to seek alternative ways to consummate an initial business combination.

NEW YORK, June 27, 2024 (GLOBE NEWSWIRE) -- Denali Capital Acquisition Corp. (NASDAQ: DECA) ("Denali" or the "Company") announced today that Denali and Longevity Biomedical, Inc. have mutually agreed to terminate their previously announced business combination agreement (the “Business Combination Agreement”).  The Company and its sponsor intend to seek alternative ways to consummate an initial business combination.