Xu Jiandong 4
4 · Denali Capital Acquisition Corp. · Filed May 24, 2022
Insider Transaction Report
Form 4
Xu Jiandong
10% Owner
Transactions
- Disposition to Issuer
Class B Ordinary Shares
2022-05-21−93,750→ 1,932,500 total(indirect: See footnote)→ Class A Ordinary Shares (93,750 underlying)
Footnotes (3)
- [F1]The Class B ordinary shares will automatically convert into Class A ordinary shares concurrently with or immediately following the consummation of the Issuer's initial business combination on a one-for-one basis, subject to adjustment, and have no expiration date.
- [F2]As described in the Reporting Person's Form 3 filed April 6, 2022, an aggregate of 281,250 Class B ordinary shares were subject to forfeiture to the Issuer for no consideration by Denali Capital Global Investments LLC (the "Sponsor"), depending on the extent to which the underwriters' over-allotment option is exercised. The underwriters only partially exercised their over-allotment option, resulting in the Sponsor forfeiting 93,750 Class B ordinary shares.
- [F3]These Class B ordinary shares are held directly by the Sponsor. The Reporting Person is the manager and controlling member of the Sponsor and, as such, may be deemed to beneficially own the ordinary shares held directly by the Sponsor. The Reporting Person disclaims any beneficial ownership of the ordinary shares held directly by the Sponsor, other than to the extent of any pecuniary interest he may have therein, directly or indirectly.