Denali Capital Acquisition Corp (NASDAQ: DECA) has pushed back the deadline for its business combination by a month, shifting the target from June 11, 2025, to July 11, 2025. Fueling this extension, the company deposited $874.78 into its trust account, secured through a convertible promissory note from Scilex Holding Company (NASDAQ: SCLX). This note, capped at $180,000 in principal, carries no interest and can be converted into DECA Class A ordinary shares at a rate of $10.00 per share upon the closing of a business combination. Notably, a remaining $56,920.74 from the note is earmarked for potential future monthly extensions, should the need arise, offering a strategic financial buffer for the SPAC.
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