Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 85

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 85
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executive office is located at Denali’s principal executive offices at 437 Madison Avenue, 27 Floor, New York, NY 10022.

The Merger Agreement

On
August 30, 2024, Denali, Merger Sub, and Semnur entered into the Merger Agreement. Pursuant to the Merger Agreement and subject to the terms and conditions set forth therein, (i) prior to the Effective Time, Denali will change its
jurisdiction of incorporation by deregistering as a Cayman Islands exempted company and continuing and domesticating as a corporation incorporated under the laws of the State of Delaware (see “Proposal 2 — The Domestication Proposal” for further information on the Domestication) and (ii) at the Effective Time, and following the Domestication, Merger Sub will merge with and into Semnur, with Semnur continuing as the surviving entity and
wholly owned subsidiary of Denali. The Denali Board has (a) approved and declared advisable the Merger Agreement, the Business Combination and the other transactions contemplated thereby and (b) resolved to recommend that Denali’s
shareholders approve and adopt the Merger Agreement and the transactions contemplated thereby, including the Business Combination.

The Merger Agreement
was amended on April 16, 2025, pursuant to Amendment No. 1 to Merger Agreement, by and among Denali, Merger Sub and Semnur. Among other things, Amendment No. 1 to Merger Agreement (i) modifies certain covenants of the parties to address the
delisting of the Denali Securities from the Nasdaq Capital Market, (ii) extends the Outside Date to September 30, 2025, and (iii) requires Denali to amend its organizational documents to extend the period of time within which Denali can complete a
business combination to December 11, 2025, or such other date that is mutually agreed to by Semnur and Denali.

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The Merger Agreement was amended on July 22, 2025, pursuant to Amendment No. 2 to Merger Agreement, by
and among Denali, Merger Sub and Semnur. Among other things, Amendment No. 2 to Merger Agreement modifies the definitions of the Exchange Ratio and Merger Consideration to facilitate the issuance of additional shares of Semnur Common Stock prior to
the closing of the Business Combination in connection with any potential private placement financing and to advisors and other