Intel stock extends gains after report of possible U.S. government stake
Investing.com -- Scilex Holding Company (NASDAQ:SCLX) stock rose 6.9% following the announcement that the SEC has declared effective the registration statement for its proposed business combination with Semnur Pharmaceuticals.
The company, which focuses on non-opioid pain management products, revealed that the Form S-4 registration statement related to the merger between Denali Capital Acquisition Corp. (OTCB:DNQAF) and Semnur Pharmaceuticals, a majority-owned Scilex subsidiary, has cleared a key regulatory hurdle.
Denali has scheduled an extraordinary general meeting for September 3, 2025, where shareholders will vote on the proposed business combination. Shareholders of record as of August 12, 2025, will be eligible to participate in the vote, which will take place in New York.
The transaction is expected to close shortly after receiving shareholder approvals from both Denali and Semnur, along with satisfying other customary closing conditions outlined in the registration statement.
While the combined company has applied to list its common stock and warrants on the Nasdaq, approval hasn’t been secured yet. If the listing application is rejected, the combined company’s securities would continue trading on the OTC Markets following the completion of the business combination.
Scilex Holding Company specializes in acquiring, developing and commercializing non-opioid pain management products for treating acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases.
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