Denali Capital Acquisition, the fourth SPAC from the CEO of US Tiger Securities, registered to raise $75 million through an offering of 7.5 million units. Each unit consists of one Class A ordinary share and one-half of a warrant.
The new SPAC is targeting high-performing companies in the technology, hospitality or consumer services sectors.
CEO Lei Huang is also CeO of US Tiger and is a member of the board of directors of its parent company, UP Fintech Holding Limited. Huang leads TradeUp Global, TradeUp 88 and Fortune Rise Acquisition, all blank-check firms. TradeUp Global is in a pending merger with Saitech, a bitcoin mining operator. TradeUp 88 filed in May 2021 for an $88M IPO and Fortune Rise in November raised $85 million in an IPO.
Tiger Brokers and EF Hutton are joint book-running managers.
Denali expects to apply for a Nasdaq listing under the ticker symbol DECAU. Read more.
