Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 17

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 17
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 of interest in allocating their time between Denali’s operations and the proposed Business Combination, on one hand, and their other businesses, on the other hand. In addition, certain of Denali’s officers and directors presently have, and any of them in the future may have additional, fiduciary and contractual duties to other entities, and therefore could have conflicts of interest in determining whether to present such business combination opportunity to such entity, subject to their fiduciary duties under Cayman Islands law. Denali does not believe that such duties have had any material impact on the identification of companies that may be appropriate acquisition targets. |

| • |     | At the option of the Sponsor, the $1,408,200 and $115,037 principal balances as of March 31, 2025 under each of the Sponsor Convertible Promissory Note and Sponsor Extension Convertible Promissory Note, respectively, may be converted into Denali Private Placement Shares, at the price of $10.00 per Denali Private Placement Share, in connection with the consummation of an initial business combination. |

| • |     | Denali may be entitled to distribute or pay over funds held by Denali outside the Trust Account to the Sponsor or any of its affiliates prior to the closing of the Business Combination. |

| • |     | The directors and officers of Denali own the number of Class B Ordinary Shares as shown below. |

| Name of Person      |     | Position                             |     | Founder 
  Shares |
| Lei Huang           |     | Chief Executive Officer and Director |     |  50,000 |
| You (“Patrick”) Sun |     | Chief Financial Officer              |     |  20,000 |
| Huifeng Chang       |     | Director                             |     |  20,000 |
| Jim Mao             |     | Director                             |     |  20,000 |
| Kevin Vassily       |     | Director                             |     |  20,000 |

**The foregoing personal and financial interests of the Sponsor as well as Denali’s directors and executive officers may have influenced their motivation in identifying and selecting Semnur as a business combination target and completing an initial business combination with Semnur. Moreover, the foregoing interests present a risk that the Sponsor will benefit from the completion of a business combination, including in a manner that may not be aligned with Denali’s public shareholders. As such, the Sponsor may be incentivized to complete an acquisition of a less favorable target company