Denali Capital Acquisition announced that $50,000 has been deposited into the company’s trust account to further extend the period of time the SPAC has to close its business combination by an additional month from June 11 to July 11.
Denali shareholders in January approved the acquisition of Longevity Biomedical, although completing the financing appears to be at the root of the delay in closing.
Redemptions removed most of the SPAC’s trust, although Longevity Biomedical last August agreed to waive the deal’s $30 million cash closing condition. Denali also has an $18 milion PIPE commitment with FutureTech Capital to support the transaction.
Longevity is focused on advancing new technologies across therapeutics, health monitoring and digital health solutions “to increase human health span.”
The deal was initially valued at $236 million when announced in January 2023. Read more.
