Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 377

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 377
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 risk, shall be true and correct at and as of the date of 
 the Merger Agreement and be true and correct as of the Closing Date (other than in each case except for representation and warranties that speak as of a specific date, in which case such representations and warranties need only to be true and       
 correct as of such date), other than as would not in the aggregate reasonably be expected to have a Material Adverse Effect with respect to Denali.                                                                                                      |

| • |     | Since the date of the Merger Agreement, no Material Adverse Effect with respect to Denali has occurred that is 
 continuing, regardless of whether it involved a known risk.                                                    |

| • |     | Semnur shall have received a certificate signed by an authorized officer of each of Denali and Merger Sub 
 certifying the satisfaction of the conditions described in the preceding three bullet points.             |

| • |     | From the date of the Merger Agreement until the Closing, Denali and Merger Sub shall have been in material                                  
 compliance with the reporting requirements under the Securities Act and the Exchange Act applicable to Denali and Merger Sub, respectively. |

| • |     | Each of Denali and Merger Sub shall have executed and delivered to Semnur each ancillary agreement to be executed 
 in connection with the Business Combination to which it is a party.                                               |

| • |     | The directors designated by Semnur shall have been appointed or elected to the Denali Board, effective at the 
 Effective Time.                                                                                               |

226

| • |     | New Semnur Common Stock and New Semnur Warrants shall remain listed or quoted on the OTC Markets through the                                                                                                                                              
 Effective Time, and the listing application for the New Semnur Common Stock and the New Semnur Warrants following the Effective Time shall have been approved by the OTC Markets or such other national securities exchange or automated quotation system 
 as agreed to in writing by Denali and Semnur, and as of the Closing Date, Denali shall not have received any written notice from the OTC Markets or such other exchange that it has failed, or would reasonably be expected to fail to meet such          
 exchange’s continued listing requirements as of immediately following the Closing for any reason, where such notice has not been subsequently withdrawn by such exchange or the underlying failure appropriately remedied or satisfied.                   |

| • |     | The Domestication shall have been completed as provided in the Merger Agreement and a time-st