Denali Capital Acquisition Corp. (DECAU) Prices $75M IPO

Denali Capital Acquisition Corp. priced its $75 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DECAU” Thursday, April 7.

The new SPAC intends to focus its search on technology, consumer and hospitality businesses and will not complete a business combination with a target that is headquartered in China. Denali Capital is led by CEO Lei Huang and CFO You “Patrick” Sun.

Total SPAC deal count for 2022 year-to-date is now 56. This offering is expected to close on Monday, April 11.

US Tiger Securities, Inc. and EF Hutton, a division of Benchmark Investments, LLC are acting as the joint book-running managers in the offering. Sidley Austin LLP is serving as Issuer’s Counsel with Winston & Strawn LLP serving as Underwriter’s Counsel. Friedman LLP serves as auditor. Wilmington Trust, National Association is acting as trustee.