Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 662

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 662
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, any of the stockholders of New Semnur may bring an action in the company’s name to procure a judgment in its
favor, also known as a derivative action, provided that the stockholder bringing the action is a holder of New Semnur’s capital stock at the time of the transaction to which the action relates.

Warrants

At the effective
time of the Domestication, each warrant to purchase Denali Ordinary Shares that is issued and outstanding immediately prior to the effective time of the Domestication and not terminated pursuant to its terms will be converted into a warrant to
purchase shares of New Semnur Common Stock on the same terms and conditions as are in effect with respect to such warrant immediately prior to the effective time of the Domestication. There are currently outstanding an aggregate of 8,235,378 Public
Warrants to acquire Denali Ordinary Shares.

New Semnur Public Warrants

Each Public Warrant entitles the registered holder thereof to purchase one share of New Semnur Common Stock at a price of $11.50 per share, subject to
adjustment as described in this proxy statement/prospectus, at any time commencing on the later of 30 days after the consummation of the Business Combination and 12 months from the date of the closing of the IPO. We may, in our sole discretion,
lower the warrant exercise price at any time prior to the expiration date for a period of not less than 15 business days (unless otherwise required by the SEC, any national securities exchange on which the Warrants are listed or applicable law) and
any such reduction will be identical to all of the warrants, provided that we will provide at least five days’ prior written notice to registered holders of the warrants.

New Semnur will not be obligated to deliver any New Semnur Common Stock pursuant to the exercise of a warrant and shall have no obligation to settle such
warrant exercise unless an effective and current registration statement covering the issuance of the New Semnur Common Stock issuable upon exercise of the warrants is effective and a prospectus relating to such New Semnur Common Stock is current or
a valid exemption from registration is available. Notwithstanding the foregoing, if a registration statement covering the issuance of the New Semnur Common Stock issuable upon exercise of the Public Warrants is not effective within 60 days from the
consummation of the Business Combination, warrant holders may, from the 61st day after the consummation of the Business Combination until such