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.
Terms Tracker for the Week Ending November 24, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This being the Thanksgiving holiday week, we are thankful for a lot of things, but mostly that 2023 is almost over. It’s been a rough...
At the SPAC of Dawn Though perhaps stuffed to the brim, SPAC activity continues this Thanksgiving Friday with votes by Clean Earth and Zalatoris to extend a deadline and amend trust contributions, respectively. At least seven de-SPACs are also reporting earnings today and will do so going into a futures market that is mostly green...
IB Acquisition Corp. submitted its S-1 filing Friday afternoon for a $100 million IPO, coming right on the heels of Bayview Acquisition Corp, which also filed its S-1 that day. IB is also similar to Bayview in that its units do not feature a warrant but include 1 right for 1/10. However, its trust is slightly...
Integrated Wellness (NYSE:WEL) announced in an 8-K filing that it agreed to transfer control of its sponsor to Sriram Associates, which will now take on the SPAC’s financial obligations and may appoint a new team. Sriram is acquiring 2,012,500 promote shares (70%) and 4,795,000 private placement warrants (70%) for the nominal purchase price of $1....
At the SPAC of Dawn So far, seven SPACs have announced their liquidations this week and although some others may choose to use the holiday to quietly disband, this tends to be a positive week for equities in general. Going back to 1961, the S&P 500 has ended the Thanksgiving week with gains three-quarters of...