Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 442

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 442
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 and does not intend to pay cash dividends prior to the completion of the Business Combination. The payment of cash dividends in the future will be dependent upon New Semnur’s revenues and earnings,
if any, capital requirements and general financial condition subsequent to completion of the Business Combination. The payment of any dividends subsequent to the Business Combination will be within the discretion of the New Semnur Board. Further, if
New Semnur incurs any indebtedness in connection with the Business Combination, New Semnur’s ability to declare dividends may be limited by restrictive covenants New Semnur has agreed to in connection therewith.

Semnur

There is no public
market for shares of Semnur Common Stock and Semnur Preferred Stock.

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BUSINESS OF DENALI

Unless the context otherwise requires, for purposes of this section, the terms “we,” “us,” “our,” “the Company” or “Denali” refer to Denali Capital Acquisition Corp. prior to the consummation of the Business Combination.

General

Denali is a blank check company incorporated on January 5, 2022 as a Cayman Islands exempted company for the purpose of effecting a
merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Denali has neither engaged in any operations nor generated any revenue to date. Based on
Denali’s business activities, it is a “shell company” as defined under the Exchange Act because it has no operations and nominal assets consisting almost entirely of cash.

Denali is not presently engaged in, and Denali will not engage in, any substantive commercial business until it completes the Business Combination with Semnur
or another target business.

Initial Public Offering

On April 11, 2022, Denali consummated its IPO of 8,250,000 Public Units, including the issuance of 750,000 Public Units as a result of the
underwriters’ partial exercise of their over-allotment option. Each Public Unit consists of one Denali Class A Ordinary Share, and one Public Warrant, each whole warrant entitling the holder thereof to purchase one Denali Class A
Ordinary Share at an exercise price of $11.50 per share. The Public Units were sold at a price of $10.00 per unit, generating gross proceeds to Denali of $82,500,000.

Substantially concurrently with the consummation of the IPO,