DENALI CAPITAL ACQUISITION CORP | 10-Q: FY2025 Q2 EPS: USD -0.15

EPS: As of FY2025 Q2, the actual value is USD -0.15.

Formation and Operating Costs: For the three months ended June 30, 2025, formation and operating costs were $374,857, compared to $168,186 for the same period in 2024. For the six months ended June 30, 2025, these costs were $621,457, compared to $536,438 in 2024.

Net Loss: For the three months ended June 30, 2025, the net loss was - $385,122, compared to a net income of $448,912 for the same period in 2024. For the six months ended June 30, 2025, the net loss was - $579,725, compared to a net income of $713,242 in 2024.
Interest Expense: For the three months ended June 30, 2025, interest expense was $28,345, compared to $23,059 for the same period in 2024. For the six months ended June 30, 2025, interest expense was $55,319, compared to $44,362 in 2024.

Operating Cash Flow: For the six months ended June 30, 2025, net cash used in operating activities was - $183,512, compared to - $488,664 for the same period in 2024.
Investing Cash Flow: For the six months ended June 30, 2025, net cash provided by investing activities was $8,617,553, primarily due to cash withdrawn from the trust account in connection with redemption of ordinary shares.
Financing Cash Flow: For the six months ended June 30, 2025, net cash used in financing activities was - $8,450,783, primarily due to cash paid for redemption of ordinary shares amounting to $8,617,553, offset by the proceeds from issuance of promissory note to related party of $166,770.

Core Business Focus: The company is focused on completing its initial business combination with Semnur Pharmaceuticals, Inc. The merger agreement includes a total consideration of $2,500,000,000 payable in New Semnur Common Shares, with an exchange ratio of 1.25-to-1 for Semnur’s equity value.
Non-Core Business: The company has entered into various agreements, including a Sponsor Support Agreement and a Stockholder Support Agreement, to facilitate the business combination with Semnur. These agreements include provisions for voting in favor of the merger and against any actions that would impede the business combination.
Priority: The company has extended its combination period through December 11, 2025, and is focused on completing the business combination by the extended deadline. The company has also addressed the delisting of its securities from Nasdaq by facilitating quotation on the OTC Markets.