Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 254

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 254
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 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Account, due to reductions in value of the trust assets, in each case, net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the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.

Commencing on the effective date of the prospectus filed in connection with the IPO, Denali agreed to reimburse the Sponsor for
out-of-pocket expenses through the completion of the Business Combination or the liquidation of Denali.

In addition, Denali’s executive officers and directors, or any of their respective affiliates, including the Sponsor and other entities affiliated with
Denali and the Sponsor, are entitled to reimbursement of any out-of-pocket expenses incurred by them in connection with activities on Denali’s behalf, such as
identifying potential target businesses and performing due diligence on suitable business combinations. There is no cap or ceiling on the reimbursement of out-of-pocket
expenses incurred by such persons in connection with activities on Denali’s behalf. However, if Denali fails to consummate a business combination by the Extended Date, they will not have any claim against the Trust Account for reimbursement.
Denali’s officers and directors, and their affiliates, expect to incur (or guaranty) approximately $4.7 million of transaction expenses (excluding the deferred underwriting commissions being held in the Trust Account). Accordingly, Denali
may not be able to reimburse these expenses if the Business Combination or another business combination, is not completed by such date.

Pursuant to the
Registration Rights Agreement, the Sponsor, certain stockholders of Semnur, and certain shareholders of Denali will have the right to require New Semnur, at New Semnur’s expense, to register New Sem