Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 82

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 82
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 Common Stock pursuant to the Domestication under the PFIC rules of the Code equal to the excess, if any, of the fair market value of New Semnur Common Stock received in the Domestication and the U.S. Holder’s adjusted tax basis in the corresponding Denali securities surrendered in exchange therefor. The tax on any such gain so recognized would be imposed at the rate applicable to ordinary income and an interest charge would apply. For a more complete discussion of the potential application of the PFIC rules to U.S. Holders as a result of the Domestication, see the discussion in the section titled “ Material U.S. Federal Income Tax Consequences — U.S. Holders — U.S. Federal Income Tax Consequences of the Domestication to U.S. Holders of Denali Securities — Passive Foreign Investment Company Status.” If the Domestication does not qualify as a reorganization, then a U.S. Holder that exchanges its Denali securities for New Semnur Common Stock generally is expected to recognize gain or loss equal to the difference between (i) the sum of the fair market value of the New Semnur Common Stock received and (ii) the U.S. Holder’s adjusted tax basis in the Denali securities exchanged. For a more detailed discussion of certain U.S. federal income tax consequences of the Domestication, see “ Material U.S. Federal Income Tax Consequences — U.S. Holders — U.S. Federal Income Tax Consequences of the Domestication to U.S. Holders of Denali Securities” in this proxy statement/prospectus. Holders should consult their own tax advisors to determine the tax consequences to them (including the application and effect of any state, local or other income and other tax laws) of the Domestication. 29

| Q: | What do I need to do now? |

| A: | You are urged to read carefully and consider the information contained in this proxy statement/prospectus, including the annexes, and to consider how the Business Combination will affect you as a shareholder. You should then vote as soon as possible in accordance with the instructions provided in this proxy statement/prospectus and on the enclosed proxy card or, if you hold your shares through a brokerage firm, bank or other nominee, on the voting instruction form provided by the broker, bank or nominee. |

| Q: | How can I vote? |

| A: | The Meeting will be held at        , Eastern Time