Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 660

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 660
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 in any proceeding in advance of the final disposition of such proceeding, subject to certain exceptions, and (ii) purchase and maintain insurance, at New Semnur’s expense, to protect New Semnur and any person who is or was a
director, officer, employee or agent of New Semnur or is or was a director, officer, employee or agent of New Semnur serving at its request as a director, officer, employee or agent of another corporation, limited liability company, partnership,
joint venture, trust, employee benefit plan or other enterprise against any liability, expense or loss, whether or not New Semnur would have the power or obligation to indemnify such person against such liability, expense or loss under the DGCL or
the provisions of the Proposed Bylaws.

Denali has entered into indemnification agreements with its directors and officers and New Semnur expects to enter
into indemnification agreements with each of its directors and executive officers as determined by the New Semnur Board. These agreements, among other things, will require New Semnur to indemnify its directors and executive officers against
liabilities that may arise by reason of their status or service. These indemnification agreements will also require New Semnur to advance all expenses actually and reasonably incurred by the directors and executive officers in connection with any
proceeding. The New Semnur Board believes that these agreements are necessary to attract and retain qualified individuals to serve as directors and executive officers.

The above description of the indemnification provisions of the Proposed Charter, the Proposed Bylaws and the indemnification agreements is not complete and is
qualified in its entirety by reference to these documents, each of which is filed as an exhibit to the registration statement of which this proxy statement/prospectus is a part.

Certain of New Semnur’s non-employee directors may, through their relationships with their employers, be insured
or indemnified against certain liabilities incurred in their capacity as members of the New Semnur Board.

The limitation of liability and indemnification
provisions in the Proposed Charter and the Proposed Bylaws may discourage stockholders from bringing a lawsuit against New Semnur’s directors and officers for breach of their fiduciary duty. They may also reduce the likelihood of derivative
litigation against New Semnur’s directors and officers, even though an action, if successful, might benefit New Semnur and its stockholders. In addition, a stockholder’s investment may be adversely affected to the extent New Semnur pay
the