other material
confidence high
sentiment neutral
materiality 0.60
Denali Capital extends business combination deadline to Sep 11 via $180K Scilex note
Semnur Pharmaceuticals, Inc.
- Deposited $15,036.74 into trust to extend deadline to Sep 11, 2024 from Aug 11.
- Issued up to $180,000 convertible note to Scilex (SCLX); initial draw $15,036.74.
- Note bears no interest, repayable upon business combination or liquidation; convertible at $10/share.
- Remaining $164,963.26 available for future monthly extensions as needed.
- If no business combination, note repaid only from non-trust funds or forfeited.