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

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 13
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 Denali Private Placement Shares underlying the Denali    
 Private Placement Units held by the Sponsor will automatically convert in connection with the Business Combination, if unrestricted and freely tradable, would have had an aggregate market value of $6,063,900, based upon the closing price of $11.89 
 per public share on the OTC Markets on April 17, 2025, the most recent practicable date prior to the date of this proxy statement/prospectus. The 510,000 New Semnur Warrants into which the 510,000 Denali Private Placement Warrants underlying the   
 Denali Private Placement Units held by the Sponsor will convert in connection with the Merger, if unrestricted and freely tradable, would have had an aggregate market value of $25,500 based upon the closing price of $0.05 per Public Warrant on the 
 OTC Markets on April 17, 2025, the most recent practicable date prior to the date of this proxy statement/prospectus.                                                                                                                                   |

| • |     | In the event that Denali fails to consummate a business combination within the prescribed time frame (pursuant to                                                                                                                                         
 the Current Denali Charter), or upon the exercise of a redemption right in connection with the Business Combination, Denali will be required to provide for payment of claims of creditors that were not waived that may be brought against Denali within 
 the ten years following such redemption. In                                                                                                                                                                                                               |

viii

| 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 Denali’s initial public offering against certain liabilities, including liabilities under