Special purpose acquisition company Denali Capital Acquisition Corp. (Nasdaq: DECAU) started trading publicly on the Nasdaq Global Market on Thursday. The company is seeking to raise US$75 million in its initial public offering.
The offering consists of 7.5 million company units priced at US$10.00 per unit. Each unit is composed of one Class A share and one purchase warrant, each redeemable for one Class A common share at US$11.50 per share.
The company units trade on the Nasdaq big board under the symbol “DECAU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “DECA” and “DECAW”, respectively.
The proposed offering is being managed by US Tiger Securities, Inc.–whose CEO Lei Huang also heads the SPAC–and EF Hutton as the lead bookrunners. The underwriters were granted a 45-day over-allotment option to purchase additional 1.125 million company units at the same IPO price.
On its target business combination, the firm plans to pursue firms “on technology, hospitality, and consumer services sector.”
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.