Denali Capital Acquisition announced that its shareholders voted in favor of pushing the SPAC’s completion deadline to July 11, 2024 in nine monthly increments. Denali said $50,000 has been deposited into the trust account for the first month.
Denali Capital’s merger partner Longevity Biomedical in August agreed to waive the deal’s $30 million cash closing condition.
The SPAC has 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. Read more.
