Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 669

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 669
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 share exchange or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, securities or other property. Any permitted transferees will be subject to the same restrictions and other agreements of our sponsor with respect to any founder shares. We refer to such transfer restrictions as the lock-up.

In addition, pursuant to the registration and shareholder rights agreement entered into on April 6, 2022, our sponsor, upon and following consummation of an initial business combination, will be entitled to nominate three individuals for appointment to our board of directors, as long as the sponsor holds any securities covered by the registration and shareholder rights agreement. However, at the closing of the Business Combination, such registration and shareholder rights agreement will be amended and restated as contemplated by the Merger Agreement, and the Sponsor will no longer have the right thereunder to nominate individuals to the New Semnur Board.

Listing of Securities

The Public Units, the Denali Class A Ordinary Shares and Warrants are listed on the OTC Markets under the symbols “DNQUF”, “DNQAF”, and “DNQWF,” respectively.**

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DESCRIPTION OF NEW SEMNUR SECURITIES**</div>

**General

The following description summarizes the most important terms of New Semnur’s securities, as they will be in effect upon the consummation of the Business Combination. The following summary does not purport to be complete and is subject to the Proposed Charter, the Proposed Bylaws and the provisions of applicable law. A copy of the Proposed Charter is attached as Annex B to this proxy statement/prospectus and a copy of the Proposed Bylaws is attached as Annex C to this proxy statement/prospectus. The stockholders are encouraged to read the applicable provisions of the DGCL, the Proposed Charter and the Proposed Bylaws in their entirety for a complete description of the rights and preferences of New Semnur’s securities following the Business Combination.

Authorized and Outstanding Stock

The Proposed Charter authorizes the issuance of (i) 740,000,000 shares of New Semnur Common Stock, $0.0001 par value per share and (ii) 45,000,000 shares of undesignated preferred stock, $0.0001 par value per share (the “New Semnur Preferred Stock”). As of the Record Date, there were shares of Denali Ordinary Shares and no shares of Denali Preferred Stock outstanding.

New Semnur Common Stock