NEW
YORK, July 7, 2023 /PRNewswire/ -- Denali
Capital Acquisition Corp. (NASDAQ: DECA) ("Denali" or the
"Company") announced today that it intends to deposit into the
Company's trust account an aggregate of $825,000 in order to further extend the period of
time the Company has to consummate its initial business combination
by an additional three months, from the current deadline of
July 11, 2023 to October 11, 2023 (the "Extension"). In connection
with the Extension, the Company expects to deposit the additional
funds into the trust account on or before the current deadline of
July 11, 2023. The Company is
permitted to extend the period of time to consummate a business
combination by up to two times, each time by an additional three
months, subject to the requirement to deposit additional funds into
the Company's trust account.
About Denali Capital Acquisition Corp.
Denali Capital Acquisition Corp. is a blank check company
incorporated as a Cayman Islands
exempted company for the purpose of effecting a merger, share
exchange, asset acquisition, share purchase, reorganization, or
similar business combination with one or more businesses or
entities.
Forward-Looking Statements
This press release includes forward looking statements that
involve risks and uncertainties. Forward looking statements are
subject to numerous conditions, risks and changes in circumstances,
many of which are beyond the control of the Company, including
those set forth in the "Risk Factors" section of the Company's
prospectus for its initial public offering filed with the SEC. The
Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
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SOURCE Denali Capital Acquisition Corp.