Denali Capital Acquisition Corp. Announces Extension Of Deadline To Complete Business Combination To February 11, 2024
Portfolio Pulse from Benzinga Newsdesk
Denali Capital Acquisition Corp. (DECA) has extended the deadline to complete a business combination by one month, moving it from January 11, 2024, to February 11, 2024. This extension follows a deposit of $50,000 into the company's trust account, as per the amended terms of the company's governing documents.
January 11, 2024 | 9:32 pm
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DECA has extended its deadline for a business combination, providing more time to secure a deal, which may positively influence investor sentiment.
The extension indicates that DECA is actively working towards a business combination, which is a critical step for SPACs. The additional time may reassure investors that DECA is seeking a quality deal, potentially leading to a positive short-term impact on the stock price. However, the impact is not guaranteed as it depends on the market's perception of the extension's necessity and the prospects of a successful combination.
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