Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 98

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 98
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 including Denali’s directors and executive officers, have interests in such proposal that are different from, or in addition to, those of Denali’s shareholders generally. The Denali Board was aware of and considered these interests to the extent such interests existed at the time, among other matters, in reaching the determination to approve the terms of the Business Combination and in recommending to Denali’s shareholders that they vote to approve the Business Combination. These interests include, among other things, the interests listed below:

| • |     | If Denali is unable to complete a business combination within the required time period, the aggregate dollar                                                                                                                               
 amount of non-reimbursable funds the Sponsor and its affiliates have at risk that depends on completion of a business combination is $6,548,237 comprised of (a) $25,000 representing the aggregate purchase                               
 price paid for the Denali Class B Ordinary Shares, (b) $5,100,000 representing the aggregate purchase price paid for the Denali Private Placement Units, (c) $1,408,200 representing the aggregate amount outstanding as of March 31, 2025 
 under the Sponsor Convertible Promissory Note, and (d) $115,037 representing the aggregate amount outstanding as of March 31, 2025 under the Sponsor Extension Convertible Promissory Note.                                                |

| • |     | As a result of the low initial purchase price (consisting of $25,000 for the 2,062,500 Denali Class B                                                                                                                                                    
 Ordinary Shares, or approximately $0.012 per share, and $5,100,000 for the Denali Private Placement Units), the Sponsor, its affiliates and Denali’s management team and advisors stand to earn a positive rate of return or profit on their             
 investment, even if other shareholders, such as Denali’s public shareholders, experience a negative rate of return because the post-business combination company subsequently declines in value. Thus, the Sponsor, our officers and directors, and      
 their respective affiliates may have more of an economic incentive for us to, rather than liquidate if we fail to complete our initial business combination by December 11, 2025, enter into an initial business combination on potentially less         
 favorable terms with a potentially less favorable, more risky, weaker-performing or financially unstable business, or an entity lacking an established record of revenues or earnings, than would be the case if such parties had paid the full offering 
 price for their Denali Class B Ordinary Shares.                                                                                                                                                                                                          |

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