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Scilex Holding Company Stock Surges 17% as SEC Approves Semnur Merger Vote
Scilex Holding Company Stock Surges 17% as SEC Approves Semnur Merger Vote
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BTCCSquare news:
Scilex Holding Company (NASDAQ: SCLX) shares rallied 17.71% to $20.80 after the SEC declared effective the S-4 registration for Denali Capital's proposed merger with Semnur Pharmaceuticals. The shareholder vote is set for September 3, 2025, with the combined entity to be renamed "Semnur Pharmaceuticals, Inc." upon closing.
The deal could value the post-merger company at up to $2.5 billion, contingent on shareholder approval. Semnur, majority-owned by Scilex, specializes in non-opioid pain management and treatments for neurodegenerative diseases. While Nasdaq listing approval remains pending, the regulatory green light marks a significant milestone for the SPAC transaction.
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