Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 14

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 14
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 but not approved for epidural injection or the treatment of sciatica. SP-102 is a Phase 3 sterile dexamethasone sodium phosphate viscous gel formulation of 10 mg dexamethasone at a 5 mg/mL concentration in a pre-filled glass syringe for delivery via an epidural injection. SP-102 allows for the use of the potent dexamethasone and provides for longer residency time at the site of injection through the use of a viscous excipient in lieu of particulates. The product is also formulated without the use of preservatives and packaged in a pre-filled syringe, so as to confer greater physician convenience.

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**Business Combination

On September 22, 2025, we consummated the Business Combination pursuant to the terms of the Merger Agreement, by and among Denali, Merger Sub and Legacy Semnur.

Pursuant to the Merger Agreement, (i) prior to the Closing, Denali effected the Domestication and (ii) at the Closing, and following the Domestication, the parties effected the Merger, with Legacy Semnur as the surviving company in the Merger, and, after giving effect to such Merger, Legacy Semnur became a wholly owned subsidiary of Denali. The Merger was approved by Denali’s shareholders at a meeting held on September 3, 2025 (the “Denali Shareholder Meeting”). In connection with the Business Combination, Denali changed its name to “Semnur Pharmaceuticals, Inc.”

In accordance with the terms and subject to the conditions of the Merger Agreement, at the time at which the Business Combination became effective (the “Effective Time”), (i) each outstanding share of Legacy Semnur Common Stock outstanding immediately prior to the Effective Time was automatically cancelled in exchange for the right to receive 1.25 shares of our Common Stock, (ii) each share of Legacy Semnur Preferred Stock outstanding immediately prior to the Effective Time was cancelled in exchange for the right to receive (a) one share of Series A Preferred Stock (as defined below) and (b) one-tenth of one share of our Common Stock, and (iii) each option to purchase shares of Legacy Semnur Common Stock outstanding as of immediately prior to the Effective Time was converted into the right to receive a comparable option to purchase shares of our Common Stock.

Our Common Stock and Public Warrants are currently traded on the Pink Limited Market of the O