Denali Capital Acquisition, the fourth blank check company formed by the CEO of US Tiger Securities, raised $75 million by offering 7.5 million units at $10. Each unit consists of one share of common stock and one warrant, exercisable at $11.50.
Denali Capital Acquisition is led by CEO Lei Huang, who leads the US division of Chinese brokerage firm UP Fintech (TIGR), which is serving as lead bookrunner. He is joined by CFO Patrick Sun, the CFO of oil and gas company Lake Crystal Energy.
Huang also leads three other SPACs. He serves as the CEO and Director of Fortune Rise Acquisition (FRLAU), which went public in November 2021. In addition, he is currently the co-CEO and Director of TradeUP Global Corp (TUGC), which has a pending merger with bitcoin mining company SAITECH; and TradeUP 88 (TUFUU), which is on file for an $88 million offering.
Denali Capital Acquisition plans to target unique business concepts with high-performing organizations that have both aspirations to accelerate growth and create value within the technology, hospitality or consumer services sectors.
Denali Capital Acquisition plans to list on the Nasdaq under the symbol DECAU. Tiger Brokers and EF Hutton acted as joint bookrunners on the deal.
