Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 125

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 125
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redemption offer by the Sponsors and/or their affiliates, along with the purchase price; (b) the purpose of the purchases by the Sponsor and/or their affiliates; (c) the impact, if any, of the purchases by the Sponsor and/or their
affiliates on the likelihood that the business combination transaction will be approved; (d) the identities of security holders of Denali who sold to the Sponsor and/or their affiliates (if not purchased on the open market) or the nature of
Denali’s security holders (e.g., 5% security holders) who sold to the Sponsor and/or their affiliates; and (e) the number of Denali Class A Ordinary Shares for which Denali has received redemption requests pursuant to its redemption
offer.

Emerging Growth Company

Denali is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups
Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including, but not limited to, not
being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, as amended (the “Sarbanes-Oxley
Act”), reduced disclosure obligations regarding executive compensation in Denali’s periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and
stockholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth
companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities
registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply
to non-emerging growth companies but any such election to opt out is irrevocable. New Semnur has

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irrevocably elected not to avail itself of this exemption from new or revised accounting standards and, therefore, will be subject to the same new or revised accounting standards as other public
companies that are not emerging growth companies. As a result, changes