Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 401

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 401
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 Preferred Stock as stock consideration in the Business Combination, (ii) accommodate the issuance of shares of New Semnur Common Stock under any equity plans New Semnur may adopt following the consummation of the Business Combination (which authorize the issuance of shares of New Semnur Common Stock) as we determine from time to time is necessary to attract and retain talented employees, and (iii) provide flexibility for future issuances of shares of New Semnur Common Stock if determined by the New Semnur Board to be in the best interests of New Semnur after the consummation of the Business Combination without incurring the risk, delay and potential expense incident to obtaining stockholder approval to increase the authorized share capital. In connection with the Business Combination, an aggregate of 277,087,600 shares of New Semnur Common Stock are needed to complete the Business Combination, comprised of:

| • |     | 200,000,000 shares of New Semnur Common Stock to be issued as Merger Consideration and beneficially held by 
 Scilex (as the controlling stockholder of Semnur);                                                          |

| • |     | up to a maximum of 600,000 shares of New Semnur Common Stock to be issued to Scilex as the sole holder of Semnur 
 Series A Preferred Stock as Preferred Consideration;                                                             |

| • |     | up to a maximum of 6,000,000 shares of New Semnur Series A Preferred stock to be issued to Scilex as the sole 
 holder of Semnur Series A Preferred Stock as Preferred Consideration;                                         |

| • |     | assuming approval of the Option Exchange Proposal, up to a maximum of 50,000,000 shares of New Semnur Common 
 Stock that will be issuable upon exercise of options to purchase shares of New Semnur Common Stock;          |

| • |     | 2,799,715 shares of New Semnur Common Stock to be issued in exchange for the same number of Denali Ordinary 
 Shares;                                                                                                     |

| • |     | 524,622 shares of New Semnur Common Stock to be issued upon the automatic separation of Units into their 
 component parts;                                                                                         |

| • |     | 323,161 shares of New Semnur Common Stock, to be issued upon conversion (if converted) of the Denali Convertible             
 Promissory Notes (taking into account accrued interest through September 30, 2025