Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 402

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 402
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 subsequently reincorporated in Delaware in a manner similar to the procedures Denali is proposing. Due to Delaware’s longstanding policy of encouraging incorporation in that state and consequently its popularity as the state of incorporation, the Delaware courts have developed a considerable expertise in dealing with corporate issues and a substantial body of case law has developed construing the DGCL and establishing**

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**public policies with respect to Delaware corporations. It is anticipated that the DGCL will continue to be interpreted and explained in a number of significant court decisions that may provide greater predictability with respect to Denali’s corporate legal affairs.

Expected Accounting Treatment of the Domestication

There will be no accounting effect or change in the carrying amount of the assets and liabilities of Denali as a result of the Domestication. The business, capitalization, assets and liabilities, and financial statements of Denali immediately following the Domestication will be the same as those of Denali immediately prior to the Domestication.

Vote Required for Approval

The approval of the Domestication Proposal requires a special resolution under Cayman Islands law, being the affirmative vote of two-thirds (2/3) of the Denali Ordinary Shares present in person or represented by proxy and entitled to vote thereon and who vote at the Meeting or any adjournment or postponement thereof. Solely in connection with the Domestication Proposal, holders of the Denali Class B Ordinary Shares will have ten votes per share and holders of Denali Class A Ordinary Shares will have one vote per share. Abstentions and broker non-votes, while considered present for the purposes of establishing a quorum, will not count as votes cast at the Meeting, and otherwise will have no effect on the proposal.

The Domestication Proposal is conditioned on the approval (or waiver) of each of the other Condition Precedent Proposals.

Resolution to be Voted Upon

The full text of the resolution to be passed is as follows:

“RESOLVED, AS A SPECIAL RESOLUTION THAT, (a) the change of the domicile of Denali pursuant to a transfer by way of continuation of an exempted company out of the Cayman Islands and a domestication into the State of Delaware as a corporation, and the de–registration of Denali in the Cayman Islands pursuant to Article 47.1 of the Current Denali Charter (the “Domestication”) and the approval of the Amended and Restated Certificate of Incorporation of Semnur Pharmaceuticals, Inc., a copy of which is attached as Annex