Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 417

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 417
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% Medicare tax imposed on certain net investment income or any aspects of U.S. federal taxation other than those pertaining to income tax (such as the gift or estate tax), nor does it address any tax consequences arising under any U.S. state and local, or non–U.S. tax laws. Holders should consult their own tax advisors regarding such tax consequences in light of their particular circumstances. No ruling has been requested or will be obtained from the IRS regarding the U.S. federal income tax consequences of the Domestication or any other related matter; thus, there can be no assurance that the IRS will not challenge the U.S. federal income tax treatment described below or that, if challenged, such treatment will be sustained by a court. This summary is limited to considerations relevant to holders that hold Denali securities or will hold Domesticated Denali securities as “capital assets” within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address all aspects of U.S. federal income taxation that may be important to holders in light of their individual circumstances, including holders subject to special treatment under the U.S. tax laws, such as, for example:

| • |     | banks or other financial institutions, underwriters, or insurance companies; |

| • |     | traders in securities who elect to apply a mark–to–market method of accounting; |

| • |     | real estate investment trusts and regulated investment companies; |

| • |     | tax–exempt organizations, qualified retirement plans, individual retirement accounts, or other tax-deferred accounts; |

| • |     | expatriates or former long–term residents of the United States; |

| • |     | subchapter S corporations, partnerships or other pass–through entities or investors in such entities; |

| • |     | dealers or traders in securities, commodities or currencies; |

| • |     | grantor trusts; |

| • |     | persons subject to the alternative minimum tax; |

| • |     | U.S. persons whose “functional currency” is not the U.S. dollar; |

| • |     | persons who received Denali Ordinary Shares or will receive New Semnur Common Stock through the issuance of              
 restricted stock under an equity incentive plan or through a tax–qualified retirement plan or otherwise as compensation; |

256

| • |     | persons who own (directly or through attribution) 5% or more (by vote or value) of the outstanding