Denali Capital Acquisition Corp. Announces Pricing of US$75M IPO

Winston & Strawn represented US Tiger Securities, Inc., as the joint book-running managers, in connection with Denali Capital Acquisition Corp. (NASDAQ: DECA, the Company), which announced the pricing of its IPO of 7,500,000 units at a price of US$10.00 per unit. The units have been approved for listing on The NASDAQ Global Market (NASDAQ) and will trade under the symbol "DECAU," beginning on April 7, 2022. Each unit issued in the IPO consists of one share of Class A ordinary share and one redeemable warrant, with each whole warrant exercisable to purchase one whole share of Class A ordinary share at a price of US$11.50 per share. After the securities comprising the units begin separate trading, Class A ordinary shares and warrants are expected to be listed on NASDAQ under the symbols "DECA" and "DECAW," respectively. The offering is expected to close on or about April 11, 2022, subject to customary closing conditions. The Company has granted the underwriters a 45-day option to purchase up to 1,125,000 additional units at the IPO price to cover over-allotments, if any.