Denali Capital (NASDAQ:DECA) announced in an 8-K that it has added $18 million in equity funding to its combination with biotech firm Longevity through the sale of newly issued series A preferred shares.
FutureTech Capital has agreed to purchase 1,800,000 such shares at $10 per share and Denali plans to issue at least 200,000 more preferred shares to investors not covered in this purchase. When announcing the business combination, Denali noted it aimed to raise a $30 million PIPE and it must provide $30 million in cash in order for the deal to close.
These preferred shares will be convertible into ordinary shares at the lower of $8 or the 20-day VWAP of the company stock multiplied by 80%. The parties have set a floor price for such conversion at $5 and all prices may be further adjusted for dividends, stock splits or other corporate actions. Otherwise, these preferred shares will have the same voting power and dividend rights as ordinary shares.
Denali Capital initially announced its $236.2 million combination with Longevity in January. Bothell, Washington-based Longevity is building a platform to consolidate a number of clinical-stage therapies, beginning with treatment candidates aiming to improve outcomes of certain vascular conditions as well as replace lost tissue.


A look at Plus’ software-first approach to autonomous trucking. After years of investment and excitement, the dawn of self-driving cars and trucks is now here. The question now is which business model among autonomous driving technology companies will win out? This week, we speak with David Liu, CEO of autonomous trucking company Plus. Plus announced...
At the SPAC of Dawn One thing that SPAC investors can typically count on while their money is invested in a SPAC’s trust is that it is going to grow one way or the other between now and their next redemption opportunity, but the devil can occasionally be in the details. In 2024, it became...
Thunderstone has filed for a $50 million SPAC to put a new first-time Asia-based team in action on a generalist hunt. The new SPAC is offering investors a right to a 1/8 share in each unit with 18 months to initially complete a business combination. It is the 8th fresh S-1 filed with underwriter D....
At the SPAC of Dawn In a trading session that may find itself built around the release of Fed minutes at 2 pm ET this afternoon, a pair of SPAC targets have added their own fresh information to the mix. Enterprise AI firm Fusemachines, which has a pending combination with CSLM (OTC:CSLMF), put out a...
Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...