Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 67

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 67
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 interests of Scilex and its stockholders. In particular, it is possible that New Semnur may be precluded from participating in certain business opportunities that New Semnur might otherwise have participated in as those opportunities may be presented to Scilex because such directors may deem such opportunities to have a greater benefit to Scilex than to New Semnur. In addition, such directors and officers may own shares of Scilex common stock, options to purchase shares of Scilex common stock or other Scilex equity awards. These individuals’ holdings of Scilex common stock, options to purchase shares of Scilex common stock or other equity awards of Scilex may be significant for some of these persons compared to these persons’ total assets. Their position at Scilex and the ownership of any Scilex equity or equity awards creates, or may create the appearance of, conflicts of interest when these directors and officers are faced with decisions that could have different implications for Scilex than the decisions have for us. Potential conflicts of interest may also arise if New Semnur enters into commercial arrangements with Scilex in the future. As a result of these actual or apparent conflicts, New Semnur may be precluded from pursuing certain growth initiatives. See the section titled “ Risk Factors — Risks Related to Semnur’s Relationship with Scilex — Certain of our directors and officers may have actual or potential conflicts of interest because of their positions with Scilex” for additional discussion.

21

QUESTIONS AND ANSWERS ABOUT THE MEETING AND REDEMPTION RIGHTS

| Q: | When and where is the Meeting? |

| A: | The Meeting will be held on        , 2025 at        , Eastern Time, at the offices of US Tiger Securities, Inc. located at 437 Madison Avenue, 27th Floor, New York, New York 10022. |

| Q: | What is being voted on at the Meeting? |

| A: | Below are the Proposals that the Denali shareholders are being asked to vote on at the Meeting: |

| • |     | Proposal 1 — The Business Combination Proposal — to approve and adopt the Merger Agreement and the Business Combination. |

| • |     | Proposal 2 — The Domestication Proposal — to approve the domestication