Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 57

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 57
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arrant on OTC 
 Markets on April 17, 2025, the most recent practicable date prior to the date of this proxy statement/prospectus.                                                                                                                                       |

| • |     | In the event that Denali fails to consummate a business combination within the prescribed time frame (pursuant to                                                                                                                                         
 the Current Denali Charter), or upon the exercise of a redemption right in connection with the Business Combination, Denali will be required to provide for payment of claims of creditors that were not waived that may be brought against Denali within 
 the ten years following such redemption. In order to protect the amounts held in the Trust Account, the Sponsor has agreed that it will be liable to Denali if and to the extent any claims by a third party (other than Denali’s independent             
 registered public accounting firm) for services rendered or products sold to Denali, or a prospective target business with which Denali has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below the 
 lesser of (i) $10.00 per public share or (ii) the actual amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account, due to reductions in value of the trust assets, in each case, net of the amount        
 of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the indemnity of the underwriters of the IPO  
 against certain liabilities, including liabilities under the Securities Act.                                                                                                                                                                              |

| • |     | Denali, the Sponsor, each of Denali’s directors and executive officers and Semnur entered into the Sponsor                                                                       
 Support Agreement, pursuant to which, among other things, each of Denali’s directors and executive officers and the Sponsor agreed to vote any Denali securities held by them to |

20

| approve the Business Combination and the other Denali shareholder matters required pursuant to the Merger Agreement, and not to seek redemption of any of their Denali securities in connection 
 with the consummation of the Business Combination.                                                                                                                                              |

| • |     | The Sponsor and Scilex entered into the Sponsor Interest Purchase Agreement, pursuant to which Scilex purchased                                                                                                                               
 500,000 Denali Class B Ordinary Shares (the “Purchased Interests”) that were held by the Sponsor in consideration of (i) $2,000