Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 59

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 59
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 The directors and officers of Denali own the number of Class B Ordinary Shares as shown below. |

| Name of Person      |     | Position                             |     | Founder Shares |
| Lei Huang           |     | Chief Executive Officer and Director |     |         50,000 |
| You (“Patrick”) Sun |     | Chief Financial Officer              |     |         20,000 |
| Huifeng Chang       |     | Director                             |     |         20,000 |
| Jim Mao             |     | Director                             |     |         20,000 |
| Kevin Vassily       |     | Director                             |     |         20,000 |

These interests, which may create actual or potential conflicts of interest, are, to the extent material, described in the section titled “Proposal 1 — The Business Combination Proposal — Interests of Certain Persons in the Business Combination.”

| Q: | Will Scilex have continued voting and operational control over Semnur following the Business                                
 Combination and will Semnur continue to rely on funding and services provided by Scilex following the Business Combination? |

| A: | Immediately following the Business Combination, as disclosed elsewhere in this proxy statement/prospectus,                                                                                                                                               
 Scilex will control a minimum of approximately 86.3% of the voting power of the post-Business Combination company, which means that Scilex will control the vote of all matters submitted to a vote of the New Semnur stockholders. This control will    
 enable Scilex to control the election of the members of the New Semnur Board and all other corporate decisions. In particular, for so long as Scilex continues to own a majority of the New Semnur Common Stock, Scilex will be able to cause or prevent 
 a change of control of New Semnur or a change in the composition of the New Semnur Board and could preclude any unsolicited acquisition of New Semnur.                                                                                                   |

Pursuant to the Registration Rights Agreement and the Proposed Charter, which will take effect upon completion of the Business Combination, Scilex will have certain rights, and the ability to take certain actions, that are not otherwise available to all New Semnur stockholders. For example, the Registration Rights Agreement provides Scilex the right, following the Business Combination and subject to certain conditions, to demand that New Semnur file a registration statement or request that their shares of New Semnur Common 22

Stock be covered