Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 438

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 438
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 a sale or disposition of, securities which are held by or through certain foreign financial institution (including
investment funds), unless any such institution (a) enters into, and complies with, an agreement with the IRS to report, on an annual basis, information with respect to interests in, and accounts maintained by, the institution that are owned by
certain U.S. persons and by certain non–U.S. entities that are wholly or partially owned by U.S. persons and to withhold on certain payments, or (b) if required under an intergovernmental agreement between the United States and an
applicable foreign country, reports such information to its local tax authority, which will exchange such information with the U.S. authorities. An intergovernmental agreement between the United States and the applicable foreign country may modify
these requirements. Accordingly, the entity through which Denali securities are held will affect the determination of whether such withholding is required. Similarly, dividends in respect of, and (subject to the proposed Treasury Regulations
discussed below) gross proceeds from the sale or other disposition of, New Semnur Common Stock held by an investor that is a non–financial non–U.S. entity that does not qualify under certain exceptions will generally be subject to
withholding at a rate of 30%, unless such entity either (i) certifies to the applicable withholding agent that such entity does not have any “substantial United States owners” or (ii) provides certain information regarding the
entity’s “substantial United States owners,” which will in turn be provided to the U.S. Department of Treasury.

Under the applicable
Treasury Regulations and administrative guidance, withholding under FATCA generally applies to payments of dividends. While withholding under FATCA generally would also apply to payments of gross proceeds from the sale or other disposition of
securities (including New Semnur Common Stock), proposed Treasury Regulations eliminate FATCA withholding on payments of gross proceeds entirely. Taxpayers generally may rely on these proposed Treasury Regulations until final Treasury Regulations
are issued. All holders should consult their tax advisors regarding the possible implications of FATCA on their investment in Domesticated Denali securities.

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SELECTED HISTORICAL FINANCIAL DATA OF DENALI The following selected consolidated statements of operations data for the year ended December 31, 2024 and 2023 and balance sheet data as of December 31, 2024 and 2023 have been derived from Denali’s audited consolidated financial statements included elsewhere in this proxy statement