Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 626

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 626
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man Islands court has the power to order that the register of members maintained
by a company should be rectified where it considers that the register of members does not reflect the correct legal position. If an application for an order for rectification of the register of members were made in respect of our ordinary shares,
then the validity of such shares may be subject to re-examination by a Cayman Islands court.

Public Warrants

Each whole Public Warrant entitles the registered holder to purchase one Denali Class A Ordinary Share at a price of $11.50
per share, subject to adjustment as discussed below, at any time commencing on the later of one year from the closing of the IPO and 30 days after the completion of our initial business combination, except as discussed in the immediately succeeding
paragraph. Pursuant to the Warrant Agreement, a warrant holder may exercise its warrants only for a whole number of Denali Class A Ordinary Shares, and a holder of the warrant will not be able to exercise any fraction of a warrant. The Public
Warrants will expire five years after the completion of our initial business combination, at 5:00 p.m., New York City time, or earlier upon redemption or liquidation. As of March 31, 2025, there are 8,235,378 Public Warrants issued and outstanding.

We will not be obligated to deliver any Denali Class A Ordinary Shares pursuant to the exercise of a warrant and will have no obligation to settle
such warrant exercise unless a registration statement under the Securities Act with respect to the Denali Class A Ordinary Shares underlying the warrants is then effective and a prospectus relating thereto is current, subject to our satisfying
our obligations described below with respect to registration, or a valid exemption from registration is available. We will not be obligated to issue a Denali Class A Ordinary Share upon exercise of a warrant unless the Denali Class A
Ordinary Share issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants. In the event that the conditions in the two
immediately preceding sentences are not satisfied with respect to a warrant, the holder of such warrant will not be entitled to exercise such warrant and such warrant may have no value and expire worthless. In no event will we be required to net
cash settle any warrant. In the event that a registration statement is not effective for the exercised warrants, the purchaser of a unit containing such warrant will have paid