Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 554

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 554
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 shares outstanding as of the date of this proxy statement/prospectus and assumes                                                                                                                                         
 that the holders of 14,622 Public Units have voluntarily separated such units into their component parts prior to the Closing such that the 14,622 public shares underlying such units are available for redemption in connection with the Business 
 Combination.                                                                                                                                                                                                                                        |

| (4) | Excludes 510,000 Denali Private Placement Units held by the Sponsor. In connection with Denali’s IPO, the                                                                                                                                             
 Initial Shareholders agreed they would not exercise any redemption rights with respect to the founder shares. In addition, they agreed that they would not transfer, assign or sell their founder shares until the earliest of (a) one year after the 
 completion of Denali’s initial business combination and (b) subsequent to Denali’s initial business combination, (i) if the closing price of the Denali Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share             
 subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after Denali’s initial business combination, or (ii) the date on which    
 Denali completes a liquidation, merger, share exchange or other similar transaction that results in all of Denali’s public shareholders having the right to exchange their Denali Class A Ordinary Shares for cash, securities or other property.     |

| (5) | The number of shares of New Semnur Common Stock held by Scilex at the Closing is based on the following: (a)                                                                                                                                             
 200,000,000 shares of New Semnur Common Stock, representing the Merger Consideration payable to Scilex, as the controlling stockholder of Semnur, (b) a maximum of 600,000 shares of New Semnur Common Stock, representing the Preferred Consideration   
 payable to Scilex, (c) 500,000 shares of New Semnur Common Stock, representing the 500,000 Class B Ordinary Shares held by Scilex which will be exchanged for shares of New Semnur Common Stock in the Business Combination, and (d) a maximum of 18,000 
 shares of New Semnur Common Stock expected to be issued upon conversion of the convertible promissory note dated August 9, 2024, by and between Denali and Scilex in the total principal amount of $180,000