Paul Hastings Advised Semnur Pharmaceuticals, Inc. in $2.5 Billion SPAC Merger Agreement with Denali Capital Acquisition Corp.
Paul Hastings LLP advised Semnur Pharmaceuticals, Inc., a wholly owned subsidiary of Scilex Holding Company (Nasdaq: SCLX) and Denali Capital Acquisition Corp. (Nasdaq: DECA), in the signing of an agreement and plan of merger for a proposed business combination, for a pre-transaction equity value of Semnur of $2.5 billion.
Semnur is a clinical-late-stage specialty pharmaceutical company focused on the development and commercialization of novel non-opioid pain therapies. The combination would create a publicly traded biopharma company and further provide investment into Semnur.
Chair of the Corporate Practice in Palo Alto Jeff Hartlin and partner Elizabeth Razzano led the Paul Hastings team, which included partner Lucas Rachuba, and associates Mark Cramer, Youssef Aziz, Rose Lu, Lena Son, Erik Oakley, and Daniel Jun.
More details about the transaction can be found here.
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