Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 392

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 392
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-outstanding shares of stock of New Semnur entitled to vote generally in the election of such directors); |

| • |     | provide that from and after the Scilex Trigger Event, the alteration, amendment or repeal of certain provisions of the Proposed Charter will require the affirmative vote of the holders of at least 66 2/3% of the voting power of the then-outstanding shares of stock entitled to vote thereon, voting together as a single class; |

| • |     | provide that from and after the Scilex Trigger Event, the alteration, amendment or repeal of the Proposed Bylaws will require the affirmative vote of the holders of at least 66 2/3% of the voting power of the then-outstanding shares of stock entitled to vote thereon, voting together as a single class; |

| • |     | provide that from and after the Scilex Trigger Event, stockholders will not be permitted to act by written consent in lieu of holding a meeting of stockholders; and |

| • |     | provide for certain additional changes, including, among other things, removing certain provisions related to Denali’s status as a blank check company that will no longer apply upon consummation of the Business Combination. |

In addition, the Denali Board will take such actions as are necessary to change the post-Business Combination company’s corporate name from “Denali Capital Acquisition Corp.” to “Semnur Pharmaceuticals, Inc.” and to remove provisions relating to the incorporator and initial board of directors following the Domestication and prior to the Effective Time. Reasons for the Approval of the Charter Approval Proposal In the judgment of the Denali Board, the Proposed Charter is necessary to adequately address the needs of the post-Business Combination company. In particular:

| • |     | The Proposed Charter is intended to provide a greater number of authorized shares of capital stock, which is desirable for Denali to have sufficient shares to issue to the Semnur stockholders in the Business Combination and have enough additional authorized shares for financing its business, for acquiring other businesses, for forming strategic partnerships and alliances and for stock dividends and stock splits and to issue upon exercise of the Warrants and of equity grants currently outstanding or made under any equity incentive plans or employee stock purchase plans put in place by New Semnur following the completion of the Business Combination. |

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| • |     | The Denali Board believes that the classification of the board of directors is in the best interest of the post-Business Combination company because it