Denali Capital Acquisition (DECA) said Tuesday it has moved its business combination deadline to April 11 and has placed $15,063 into its trust fund.
The extension was backed by a zero-interest note from Scilex Holding (SCLX), which allows Denali to borrow $180,000, repayable upon either a completed deal or liquidation, and convertible into class A shares at $10 per share, the company said.
Denali said the remaining balance of $59,545 under the note can be used to fund another monthly extensions if needed.
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