Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 111

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 111
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 at least 150 days after a                               
 business combination, or (y) the date on which Denali completes a liquidation, merger, share exchange or other similar transaction that results in all of our public shareholders having the right to exchange their ordinary shares for cash, 
 securities or other property.                                                                                                                                                                                                                  |     | The Sponsor, directors and officers of Denali and Scilex. |     | Transfers are permitted (a) to Denali’s officers or directors, any affiliate or family member of any of Denali’s officers or directors, any members or partners of the Sponsor or their affiliates, any affiliates of                        
 the Sponsor, or any employees of such affiliates; (b) in the case of an individual, by gift to a member of one of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s immediate        
 family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified 
 domestic relations order; (e) by private sales or transfers made (i) in connection with any forward purchase agreement or similar arrangement or (ii) in connection with the consummation of a business combination at prices no greater     
 than the price at which the Founder Shares, Denali Private Placement Units or Denali Class A Ordinary Shares, as applicable, were originally purchased; (f) by virtue of the Sponsor’s organizational documents upon liquidation or          
 dissolution of the                                                                                                                                                                                                                           |

55

| Subject Securities                                                                         |     | Expiration Date                                         |     | Persons Subject to 
 Restrictions       |     | Exceptions to Transfer                                                                                                                                                                                                          
 Restrictions                                                                                                                                                                                                                    |
|                                                                                            |     |                                                         |     |                    |     | Sponsor; (g) to Denali for no value for cancellation in connection with the consummation of a business                                                                                                                          |
|                                                                                            |     |                                                         |     |                    |     | combination, (h) in the event of the Company’s liquidation prior to the completion of a business combination; or (i) in the event of completion of a liquidation, merger, share exchange or other similar transaction           
 which results in all of Denali’s public shareholders having the right to exchange their Denali Class A Ordinary Shares for cash, securities or other property subsequent to the completion of a business combination; provided, 
 however, that in the case of clauses (a)