Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 405

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 405
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 the affirmative vote of the holders of at least 66 2/3% of the voting power of the then-outstanding shares of stock entitled to vote thereon, voting together as a single class; |

| • |     | Advisory Proposal F — to provide that from and after the Scilex Trigger Event, stockholders will not 
 be permitted to act by written consent in lieu of holding a meeting of stockholders; and             |

| • |     | Advisory Proposal G — to change the post-Business Combination corporate name from “Denali                                                                                                                                 
 Capital Acquisition Corp.” to “Semnur Pharmaceuticals, Inc.,” to make the post-Business Combination company’s corporate existence perpetual and to eliminate provisions specific to its status as a blank check company.” |

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Recommendation of the Denali Board

THE DENALI BOARD UNANIMOUSLY RECOMMENDS THAT DENALI’S SHAREHOLDERS VOTE “FOR” THE APPROVAL OF EACH OF THE ADVISORY GOVERNANCE PROPOSALS.

The existence of financial and personal interests of one or more of Denali’s directors may result in a conflict of interest on the part of such
director(s) between what such director or directors may believe is in the best interests of Denali and its shareholders and what such director or directors may believe is best for such director or directors in determining to recommend that
shareholders vote for the Proposals. In addition, Denali’s officers have interests in the Business Combination that may conflict with your interests as a shareholder. See the section above titled “Proposal 1—The Business Combination Proposal—Interests of Certain Persons in the Business Combination” for a further discussion of these considerations.

246

PROPOSAL 6 — THE DIRECTOR ELECTION PROPOSAL Overview Pursuant to the Merger Agreement, Denali has agreed to take all necessary action, including causing the Denali Board to resign, so that effective at the Closing, the New Semnur Board will consist of five individuals, a majority of whom will be independent directors in accordance with the requirements of Nasdaq. Director Nominees At the Meeting, it is proposed that five directors will be elected to be the directors of New Semnur to take office upon consummation of the Business Combination. Immediately prior to and upon the consummation of the Business Combination, the New Semnur Board will be reclassified into three classes: Class I, Class II and Class III. The number of directors in each class is as equal as possible