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Denali Capital Acquisition Corp. (OTCQB:DNQAF), a company focused on pharmaceutical preparations with a current market capitalization of $43.18 million, has amended its merger agreement with Semnur Pharmaceuticals, according to an 8-K filing with the Securities and Exchange Commission. The revision, made on Monday, modifies conditions related to the de-listing of Denali’s securities from the Nasdaq Capital Market and their quotation on the OTC Markets.
The amendment, dated April 16, 2025, also extends the deadline for Denali to complete a business combination to December 11, 2025, and sets a new outside date for the merger of September 30, 2025. This is contingent on an extension amendment being in effect, in which case the deadline would align with the extension date.
Denali’s units (DNQUF), Class A ordinary shares (DNQAF), and warrants (DNQWF) were previously traded on the Nasdaq Capital Market but have since moved to the OTC Markets. The stock is currently trading near its 52-week high of $12.20, showing a remarkable 37.82% return over the past year. InvestingPro analysis indicates the stock is in overbought territory, with several additional technical indicators available to subscribers.
This filing comes after an initial announcement on September 5, 2024, disclosing the plan for Semnur, a subsidiary of Scilex Holding Company, to merge with Denali, with Semnur surviving as a wholly owned subsidiary. The merger is part of a larger business combination strategy.
Investors and security holders are advised to read the proxy statement/prospectus for further details on the business combination, which is included in Denali’s registration statement filed with the SEC. The proxy statement/prospectus contains important information and will be sent to Denali shareholders for voting on the merger. For comprehensive financial analysis and additional insights, including detailed financial health metrics and exclusive ProTips, investors can access InvestingPro’s extensive database of market intelligence.
The information in this article is based on a press release statement and Denali Capital Acquisition Corp.’s SEC filing.
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