Vickers Vantage Corp. Announces Business Combination with Denali Capital Acquisition Corp.

On November 6, 2024, Vickers Vantage Corp. (OTCMKTS:VCKAU) revealed the issuance of a press release regarding the recently filed Registration Statement on Form S-4 by Denali Capital Acquisition Corp. The filing is in connection with the anticipated business combination of Denali and Semnur Pharmaceuticals, Inc., a fully owned subsidiary of Vickers Vantage Corp., as per the Merger Agreement agreed upon on August 30, 2024. The Business Combination with Denali and Semnur aims at creating significant value with a pre-transaction equity valuation of Semnur amounting to $2.5 billion.

As part of the deal, a stock dividend involving 5,000,000 shares of Series 1 Mandatory Exchangeable Preferred Stock was declared by Vickers Vantage Corp., set for distribution to stockholders and specific security holders of Vickers Vantage Corp., effective as of a Record Date designated as November 7, 2024.

The amalgamation aligns with the broader strategy of Scilex Holding Company, Vickers Vantage Corp.’s entity, which focuses on acquiring, developing, and commercializing non-opioid pain management products for treating acute and chronic pain. The offerings of Scilex Holding Company include ZTlido (lidocaine topical system), ELYXYB, and Gloperba, among others.

The Business Combination is anticipated to conclude by the first quarter of 2025. Denali Capital Acquisition Corp., as the SPAC involved, has submitted the Registration Statement to the SEC, which includes a preliminary proxy statement/prospectus covering the forthcoming Business Combination. Interested investors and stakeholders are advised to review the mentioned documents at their disposal for detailed insights into the proposed transaction.

The press release contained forward-looking statements emphasizing the potential benefits of the merger and the challenges both entities might face. Risks associated with regulatory approvals, market acceptance, and the successful integration of the businesses were among the mentioned uncertainties.

Vickers Vantage Corp., Denali Capital Acquisition Corp., and Semnur Pharmaceuticals, Inc., encourage shareholders to stay updated on further announcements and developments pertaining to the Business Combination. The Registration Statement filed with the SEC offers a comprehensive guide for investors and interested parties seeking clarity on the proposed transaction’s intricacies.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vickers Vantage Corp. I’s 8K filing here.

Vickers Vantage Corp. I Company Profile

As of November 10, 2022, Vickers Vantage Corp. I was acquired by Scilex Holding Company, in a reverse merger transaction. Vickers Vantage Corp. I does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities.