Scilex Holding Company ( (SCLX) ) has issued an update.
Scilex Holding Company announced a significant move towards a business combination between its subsidiary, Semnur Pharmaceuticals, and Denali Capital Acquisition Corp. This merger aims to boost Semnur’s equity value to $2.5 billion, with plans to finalize by early 2025. Concurrently, Scilex is distributing preferred stock dividends to its shareholders, offering a unique opportunity for investors to capitalize on this strategic development. The merger promises to enhance growth prospects and diversify Scilex’s portfolio in the non-opioid pain management sector.
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