Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 556

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 556
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 businesses or entities.

As of December 31, 2024, Denali had not yet commenced operations. All activity for the period from January 5, 2022 (inception) through December 31, 2024 relates to Denali’s formation, organizational activities, activities necessary to prepare for and complete the IPO, identifying a target company for a business combination, and activities in connection with an initial business combination, including with respect to the Business Combination.

Semnur is a late-stage clinical biopharmaceutical company focused on developing and commercializing innovative non-opioid pain management products for the treatment of acute and chronic pain. Semnur targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving patient outcomes. Its lead product candidate, SP-102, if approved, has the potential to become the first FDA approved non-opioid novel injectable corticosteroid gel formulation for patients with moderate to severe LRP (also known as sciatica), containing no preservatives, surfactants, solvents, or particulates and is expected to be available in a pre-filled syringe formulation following approval by the FDA.

The Business Combination

On August 30, 2024, Denali entered into the Merger Agreement with Merger Sub and Semnur. Pursuant to the Merger Agreement, subject to the terms and conditions set forth therein, under the terms of which, Merger Sub will merge with and into Semnur and with Semnur becoming a wholly owned subsidiary of Denali. After giving effect to the Business Combination, Denali will own all of the issued and outstanding equity interests of Semnur. In connection with the consummation of the Business Combination, Denali will be renamed as “Semnur Pharmaceuticals, Inc.” (“New Semnur”).

On August 30, 2024, the Semnur Board adopted and proposed resolutions to amend Semnur’s Amended and Restated Certificate of Incorporation such that the total number of shares authorized for issuance was increased to 245,000,000 shares, consisting of 200,000,000 shares of common stock, par value $0.00001 per share and 45,000,000 shares of preferred stock, par value $0.00001 per share. At the Closing, (i) each outstanding share of Semnur Common Stock as of immediately prior to the Effective Time