Denali Capital Acquisition Corp. announced a private placement that it has issued a convertible promissory note in the total principal amount of up to $179,999 to returning investor, Denali Capital Global Investments LLC on July 10, 2024. The Convertible Promissory Note matures upon the earlier of the effective date of the consummation of the Company?s initial business combination and the date of the liquidation of the Company. At the option of the Sponsor, upon consummation of an initial business combination, the Convertible Promissory Note may be converted in whole or in part into additional Class A ordinary shares of the Company, at a conversion price of $10.00 per ordinary share.

On the same day, the Convertible Promissory Note was issued with an initial principal balance of $15,036.74 in its first tranche closing, with the remaining $164,963.26 drawable at the Company?s request and upon the consent of the Sponsor prior to the maturity of the Convertible Promissory Note.