Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 300

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 300
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 as there may not be
sufficient liquidity in its securities when its shareholders wish to sell their shares.

Appraisal Rights

There are no appraisal rights available to holders of Denali Ordinary Shares, Denali Private Placement Units (and the underlying securities), Public Warrants
or Public Units in connection with the proposed Business Combination or the Domestication.

Proxies and Proxy Solicitation Costs

Denali is soliciting proxies on behalf of the Denali Board. This solicitation is being made by mail but also may be made by telephone or in
person. Denali and its directors, officers and employees may also solicit proxies in person, by telephone or by other electronic means. Denali will bear the cost of the solicitation.

Denali has engaged Advantage Proxy, Inc. to assist in the proxy solicitation process. Denali will pay Advantage Proxy, Inc. a fee of $12,500 plus
disbursements.

Denali will ask banks, brokers and other institutions, nominees and fiduciaries to forward the proxy materials to their principals and to
obtain their authority to execute proxies and voting instructions. Denali will reimburse them for their reasonable expenses.

172

PROPOSAL 1 - THE BUSINESS COMBINATION PROPOSAL

Our shareholders are being asked to approve and adopt the Merger Agreement and the transactions contemplated thereby, including the Business Combination. Our
shareholders should read carefully this proxy statement/prospectus in its entirety, including the section below titled “The Merger Agreement,” for more detailed information concerning the Business Combination and the terms and
conditions of the Merger Agreement.

All Denali shareholders should read carefully this proxy statement/prospectus in its entirety for more detailed
information concerning the Merger Agreement, Amendment No. 1 to Merger Agreement and Amendment No. 2 to Merger Agreement, copies of each of which are attached as , and , respectively, to this proxy
statement/prospectus. You are urged to read carefully the Merger Agreement in its entirety before voting on this Business Combination Proposal.

Denali
may consummate the Business Combination only if all of the Condition Precedent Proposals are approved by the Denali shareholders in person or represented by proxy and entitled to vote thereon and who vote at the Meeting or any adjournment or
postponement thereof.

Structure of the Business Combination

In accordance with Merger Agreement and prior to closing of the Business Combination, Denali will complete the Domestication pursuant to which Denali’s
jurisdiction of incorporation will be changed