Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 115

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 115
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. In reaching its decision with respect to the Business Combination and the transactions contemplated thereby, the Denali Board reviewed various industry and financial data, the evaluation of materials provided by Semnur and the fairness opinion provided by CB Capital. The Denali Board recommends that Denali’s shareholders vote:

| • |     | FOR the Business Combination Proposal; |

| • |     | FOR the Domestication Proposal; |

| • |     | FOR the Charter Approval Proposal; |

| • |     | FOR the Bylaws Approval Proposal; |

| • |     | FOR the Advisory Governance Proposals; |

| • |     | FOR the Director Election Proposal; |

| • |     | FOR the Nasdaq Proposal; |

| • |     | FOR the Option Exchange Proposal; and |

| • |     | FOR the Adjournment Proposal. |

For a description of the Denali Board’s reasons for the approval of the Business Combination, see the section titled “ Proposal 1 – The Business Combination Proposal – The Denali Board’s Reasons for the Approval of the Business Combination.” Regulatory Approvals The Business Combination and the transactions contemplated by the Merger Agreement are not subject to any additional regulatory requirement or approval, except for (i) filings with the Cayman Islands Registrar of Companies and Secretary of State of the State of Delaware necessary to effectuate the Domestication and the Business Combination, and (ii) filings required with the SEC pursuant to the reporting requirements applicable to Denali, and the requirements of the Securities Act, and the Exchange Act, including the requirement to file the registration statement of which this proxy statement/prospectus forms a part and to disseminate it to its shareholders. Denali and Semnur filed the required forms under the HSR Act with the Antitrust Division of the Department of Justice (“Antitrust Division”) and the Federal Trade Commission (“FTC”) on September 18, 2024 and the waiting period expired on October 18, 2024.

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Appraisal Rights There are no appraisal rights available to holders of Denali Ordinary Shares, Denali Private Placement Units (and the underlying securities), Public Warrants or Public Units (and the underlying securities) in connection with the proposed Business Combination or the Domestication. Total Shares of Common Stock and Preferred Stock Outstanding Upon Consummation of the Business Combination It is anticipated that, upon the closing of the Business Combination, if none of the 43,739 Denali Class A Ordinary Shares (which includes 14,622 shares underlying the Public Units) currently issued and