Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 675

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 675
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 issued was determined based on
the expectation that such Denali Class B Ordinary Shares would represent approximately 20% of the issued and outstanding shares upon completion of the IPO (not including the Denali Private Placement Shares that may be issued upon redemption of
the Denali Private Placement Units). On May 23, 2022, the Sponsor forfeited 93,750 Denali Class B Ordinary Shares based on the over-allotment option partially exercised by the underwriters. On September 4, 2024, the Sponsor
transferred 500,000 Denali Class B Ordinary Shares to Scilex pursuant to the Sponsor Interest Purchase Agreement.

Denali Private Placement Units

On April 11, 2022, Denali completed the sale to the Sponsor of an aggregate of 510,000 Denali Private Placement Units for a purchase
price of $10.00 per whole unit for an aggregate of $5,100,000. Each whole Private Placement Unit will consist of one Denali Private Placement Share and one Denali Private Placement Warrant. Each Denali Private Placement Warrant entitles the holder
to purchase one Denali Class A Ordinary Share at a price of $11.50 per share, subject to adjustment. The Denali Private Placement Units will not be transferable, assignable, or saleable until 30 days after the completion by Denali of an initial
business combination.

Original Sponsor Letter Agreement

On April 6, 2022, Denali entered into the Sponsor Letter Agreement with the Sponsor, pursuant to which, among other things, the Sponsor agreed to vote all
Denali Class B Ordinary Shares held by it to approve a proposed business combination (including any proposals recommended by the Denali Board in connection with such business combination) and not to redeem any Denali shares held by them in
connection with such shareholder approval in order to induce Denali and the underwriters in the IPO to enter into the Underwriting Agreement and to proceed with IPO.

Sponsor Support Agreement

Concurrently with the
execution of the Merger Agreement, on August 30, 2024, the Sponsor and each of Denali’s directors and executive officers entered into a Sponsor Support Agreement with Denali and Semnur, pursuant to which the Sponsor and each of
Denali’s directors and executive officers has agreed to, among other things: (i) vote in favor of the Parent Shareholder Approval Matters (as defined in the Merger Agreement) and in favor of any proposal in respect of an Extension
Am