Semnur Pharmaceuticals, Denali Capital Acquisition Sign LoI For Proposed Business Combination, Which Provides For Pre-Transaction Equity Value Of Semnur Of Up To $2.0B
Portfolio Pulse from Benzinga Newsdesk
Semnur Pharmaceuticals and Denali Capital Acquisition have signed a Letter of Intent for a proposed business combination, valuing Semnur at up to $2.0 billion pre-transaction. Scilex is expected to be the majority holder of the combined company post-transaction.
July 02, 2024 | 9:18 pm
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Denali Capital Acquisition has signed a Letter of Intent with Semnur Pharmaceuticals for a business combination, valuing Semnur at up to $2.0 billion pre-transaction.
The signing of the LoI indicates a significant step towards a business combination, which could positively impact DECA's stock price due to the high valuation of Semnur.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
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Scilex is expected to be the majority holder of the combined company following the completion of the proposed business combination between Semnur Pharmaceuticals and Denali Capital Acquisition.
Scilex's majority holding in the combined company could enhance its market position and potentially drive its stock price up.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80