Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 439

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 439
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 redemption of Non–U.S. Holders that exercise redemption rights with respect to our Denali Class A Ordinary Shares, the U.S. federal income tax consequences to a Non–U.S. Holder of New Semnur Common Stock that exercises its redemption rights to receive cash will depend on whether the redemption qualifies as a sale of the New Semnur Common Stock redeemed, as described above under “–Certain U.S. Federal Income Tax Consequences to U.S. Holders of Exercising Redemption Rights.” If such a redemption qualifies as a sale of New Semnur Common Stock, the U.S. federal income tax consequences to the Non–U.S. Holder will be as described below under “– Sale, Exchange, Redemption or Other Taxable Disposition of New Semnur Common Stock.” If such a redemption does not qualify as a sale of New Semnur Common Stock, the Non–U.S. Holder will be treated as receiving a distribution, the U.S. federal income tax consequences of which are described below under “–Distributions on New Semnur Common Stock.”

U.S. Federal Income Tax Consequences of Ownership and Disposition of New Semnur Common Stock

The following discussion is a summary of certain material U.S. federal income tax consequences of the ownership and disposition of New Semnur Common Stock to Non–U.S. Holders who receive such New Semnur Common Stock pursuant to the Domestication.**

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Distributions on New Semnur Common Stock Distributions of cash or property to a Non–U.S. Holder in respect of New Semnur Common Stock will generally constitute dividends for U.S. federal income tax purposes to the extent paid from New Semnur’s current or accumulated earnings and profits, as determined under U.S. federal income tax principles. If a distribution exceeds New Semnur’s current and accumulated earnings and profits, the excess will generally be treated first as a tax–free return of capital to the extent of the Non–U.S. Holder’s adjusted tax basis in the New Semnur Common Stock. Any remaining excess will be treated as capital gain and will be treated as described below under “–Sale, Exchange, or Other Taxable Disposition of New Semnur Common Stock.” Dividends paid to a Non–U.S. Holder of New Semnur Common Stock generally will be subject to withholding of U.S. federal income tax at a 30% rate, unless such Non–U.S