Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 316

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 316
---
 the parties entered into the Termination Agreement, as they mutually believed that the Longevity Business Combination was not in the best interest of the shareholders of each of Denali and Longevity given the projected financial condition of the combined company following the closing of the Longevity Transactions. Pursuant to the Termination Agreement, the Longevity Merger Agreement was terminated effective as of the date thereof. As a result of the Termination Agreement, the Longevity Merger Agreement is of no further force and effect (other than certain customary limited provisions that survive the termination pursuant to the terms of the Longevity Merger Agreement) and ancillary agreements entered into in connection with the Longevity Merger Agreement will also automatically terminate in accordance with their respective terms.

In evaluating potential businesses and assets for Denali to acquire, subsequent to the consummation of the IPO and termination of the Longevity Merger Agreement, Denali and the Sponsor surveyed the landscape of potential acquisition opportunities based on their knowledge of, and familiarity with, the mergers and acquisitions marketplace by going back and reviewing the potential targets considered prior to entering the Longevity Merger Agreement. As an underwriter of the IPO, US Tiger is owed a portion of the $2,887,500 deferred underwriting commission, which is payable only upon completion of a business combination in the form of cash and New Semnur Common Stock. US Tiger is not owed any other fees from Denali that are contingent upon the completion of the Business Combination.

In the process that led to identifying Semnur as an attractive investment opportunity, Denali’s management team identified six potential target companies (including Semnur, and five of which were reviewed in connection with entering into the Longevity Merger Agreement) across various industries.

As part of this process, Denali identified certain general, non-exclusive criteria and guidelines that it believed were important in evaluating prospective business combination targets. In general, Denali broadly focused on potential target businesses that it believed (i) had attractive long-term growth potential, (ii) had a core product that was or had the potential to be competitively positioned within the applicable industry and (iii) had an experienced management team with an attractive business plan that would benefit from being a public company

<div align='center'>175</div>

due to the potential for access to a broader source of capital and greater visibility. In addition, Denali also considered the development stage of potential targets’ corresponding industries and any relevant regulatory risks associated with such target businesses and their respective industries. As a result of the foregoing