Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 4

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 4
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2025 and March 11, 2025, Scliex
had deposited $15,064 drawn down from the Scilex Convertible Promissory Note to the Trust Account to extend the time the Company has to
consummate an initial business combination to April 11, 2025.

On
August 14, 2024, Denali Merger Sub Inc., a Delaware corporation, was incorporated as a direct wholly owned subsidiary of Denali (the
“Merger Sub”).

On
August 15, 2024, Holdco filed a Certificate of Ownership and Merger merging each of its wholly owned subsidiaries, Longevity Merger Sub
and Denali Merger Sub, with and into Holdco, with Holdco as the sole surviving corporation. All of the outstanding shares of common stock
of Holdco held by Denali was transferred to the Merger Sub, making Holdco a direct wholly owned subsidiary of the Merger Sub and making
each of Denali Merger Sub and Longevity Merger Sub an indirect wholly-owned subsidiary of the Merger Sub.

On
August 30, 2024, Denali entered into the Agreement and Plan of Merger (the “Merger Agreement”) with Semnur, a wholly owned
subsidiary of Scilex, and Merger Sub.

Pursuant
to the Merger Agreement, subject to the terms and conditions set forth therein, (i) prior to the time at which the Business Combination
becomes effective (the “Effective Time”), Denali will change its jurisdiction of incorporation by deregistering as a Cayman
Islands exempted company and continuing and domesticating as a corporation incorporated under the laws of the State of Delaware (the
“Domestication”) and (ii) at the Effective Time, and following the Domestication, Merger Sub will merge with and into Semnur
(the “Business Combination” and together with the other transactions contemplated in the Merger Agreement, the “Transactions”),
with Semnur continuing as the surviving entity and wholly owned subsidiary of Denali. In connection with the consummation of the Business
Combination, Denali will be renamed as “Semnur Pharmaceuticals, Inc.” and Semnur will be renamed as Semnur, Inc. For more
information about the Merger Agreement, see our Current Report on Form 8-K filed with the SEC on September 5, 2024 and the Semnur Disclosure
Statement. In