Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 458

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 458
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ate and dissolve, subject in each case to our obligations under Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. If Denali does not complete its initial business combination by December 11, 2025 in accordance with the Current Denali Charter**

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(as described further below), the proceeds from the sale of the Denali Private Placement Units held in the Trust Account will be used to fund a portion of the redemptions of the Denali Class A Ordinary Shares (subject to the requirements of applicable law) and the Denali Private Placement Warrants will expire worthless. Furthermore, if Denali does not complete its initial business combination by December 11, 2025 and Denali liquidates the funds held in the Trust Account, holders of Public Warrants will not receive any funds with respect to their Public Warrants, nor will they receive any distribution from Denali’s assets held outside of the Trust Account with respect to such Public Warrants. Accordingly, the Public Warrants may expire worthless. Denali has the option to extend the deadline to complete the Business Combination beyond December 11, 2025. This extension would require approval by Denali’s shareholders through a proxy vote.

Denali initially had until October 11, 2023 to consummate an initial business combination. On October 11, 2023, Denali held the Extension Meeting. At the Extension Meeting, the shareholders approved amendments to the Current Denali Charter to, among other things, extend the date by which Denali must (i) consummate an initial business combination; (ii) cease its operations, except for the purpose of winding up, if it fails to complete such initial business combination; and (iii) redeem 100% of Denali Class A Ordinary Shares, from October 11, 2023 to July 11, 2024, by electing to extend the date to consummate an initial business combination on a monthly basis for up to nine times by an additional one month each time, unless the closing of Denali’s initial business combination has occurred, without the need for any further approval of Denali’s shareholders, provided that the Sponsor (or its affiliates or permitted designees) will deposit into the Trust Account for each such one-month extension (the “Extension Payment”) the lesser of (a) an aggregate of $50,000 or (b) $0.03 per public share that remains outstanding and is not redeemed prior to any such one-month extension