Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 23

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 23
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 the liquidity and market price of Denali’s and New Semnur’s securities.” Denali intends to seek the listing of New Semnur Common Stock and New Semnur Warrants on the Nasdaq Global Market under the proposed symbols “SMNR” and “SMNRW,” respectively, in connection with the completion of the Business Combination. An initial listing application for these securities has been filed and is currently under review by Nasdaq. However, there can be no assurance that New Semnur’s securities will be approved for listing on Nasdaq. Shareholders should note that, pursuant to Amendment No. 1 to the Merger Agreement, dated as of April 16, 2025, the requirement that the New Semnur Common Stock and New Semnur Warrants be approved for listing on Nasdaq or any other stock exchange is no longer a condition to the consummation of the Business Combination. Therefore, the Business Combination may be completed even if Nasdaq does not approve the listing application for New Semnur’s securities. As of August 11, 2025, the most recent practicable date prior to the date of this proxy statement/prospectus, the closing price for the Denali Class A Ordinary Shares was $11.54. Each shareholder’s vote is very important. Whether or not you plan to participate at the Meeting, please submit your proxy card without delay. Proxy cards must be submitted no later than the time appointed for the commencement of the Meeting or adjourned or postponed Meeting. Shareholders may revoke proxies at any time before they are voted at the Meeting. Voting by proxy will not prevent a shareholder from attending the Meeting in person if such shareholder subsequently chooses to participate in the Meeting. We encourage you to read this proxy statement/prospectus carefully. In particular, you should review the matters discussed under the caption “ Risk Factors ” beginning on page 72. The Denali Board obtained an opinion from CB Capital that the Business Combination was fair, from a financial point of view. See the section titled “ Proposal 1 — The Business Combination Proposal — Opinion of CB Capital ” and the opinion attached as Annex Hto this proxy statement/prospectus. xiii

After careful consideration of the terms and conditions of the Merger Agreement, the Denali Board has determined that the Business Combination and the transactions contemplated thereby are fair to, and in the best interests of, Denali and its shareholders. The Denali Board recommends that Denali’s shareholders vote “FOR” the approval of each of the