other_material
confidence high
sentiment neutral
materiality 0.50
Denali Capital extends business combination deadline to June 11, 2025 with $874.78 trust deposit funded by Scilex note
Semnur Pharmaceuticals, Inc.
- Deposited $874.78 into trust account to extend deadline from May 11 to June 11, 2025.
- Deposit funded by convertible promissory note from Scilex (SCLX) with principal up to $180,000, no interest.
- Note convertible at Scilex's discretion into Class A shares at $10.00 per share upon business combination close.
- Remaining $57,795.52 available under note expected to fund future one-month extensions if needed.