Denali Capital Acquisition Corp. announced that it will issue 330,000 units at a price of $10 per unit for gross proceeds of $3,300,000 on March 1, 2022. The company may also issue 352,500 units if the overallotment options is exercised.

The transaction will include participation from returning investor Denali Capital Global Investments LLC. Each unit will consists of one common share and one half of one warrant. The warrants will be exercisable at $11.50 per warrant.

The securities are subject to a hold period of 30 days from the date of issuance.