Denali Capital Acquisition in an 8-K said its merger partner Longevity Biomedical agreed to waive the deal’s $30 million cash closing condition.
This follows the SPAC’s announcement that last week it secured an $18 million PIPE commitment from FutureTech Capital to support the Longevity acquisition.
Longevity Biomedical is focused on advancing new technologies across therapeutics, health monitoring and digital health solutions “to increase human health span.”
As announced in January, the deal has a pro forma equity valuation of approximately $236.2 million, which assumes zero redemptions.
The SPAC has an Oct. 11 completion deadline. Read more.
