Denali Capital Acquisition in an 8-K said it issued a convertible promissory note for $825,000 to FutureTech Capital. The funds were deposited into the SPAC’s trust for a deadline extension until Oct. 11.
Denali has a merger deal with Longevity Biomedical at a pro forma equity valuation of approximately $236.2 million, which assumes zero redemptions.
Longevity is focused on advancing new technologies across therapeutics, health monitoring and digital health solutions to increase human health span.
Estimated cash proceeds consist of Denali’s $85.4 million in trust. The combined company may also seek a $30 million pre-transaction PIPE. Read more.
