Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 634

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 634
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 we will complete our initial business combination only if
we receive an ordinary resolution under Cayman Islands law, which requires the affirmative vote of a majority of the shareholders who attend and vote at a general meeting of the company. In such case, our initial holders, sponsor and each director
and executive officer have agreed to vote their founder shares, placement shares and any public shares purchased during or after the IPO in favor of our initial business combination. Otherwise, the Denali Private Placement Units are identical to the
Public Units sold in the IPO.

Denali Private Placement Warrants

Except as described below, the Denali Private Placement Warrants included in the Denali Private Placement Units have terms and provisions that are identical to
those of the warrants being sold as part of the units in the IPO. The Denali Private Placement Warrants (including the Denali Class A Ordinary Shares issuable upon exercise of the Denali Private Placement Warrants) will not be transferable,
assignable or salable until 30 days after the completion of our initial business combination (except pursuant to limited exceptions to our officers and directors and other persons or entities affiliated with the initial purchasers of the Denali
Private Placement Warrants). Any amendment to the terms of the Denali Private Placement Warrants or any provision of the Warrant Agreement with respect to the Denali Private Placement Warrants requires a vote of holders of a majority of the number
of the then outstanding warrants. As of October 23, 2024, there are 510,000 Denali Private Placement Warrants that may be issued upon redemption of the Denali Private Placement Units.

Dividends

We have not paid
any cash dividends on our ordinary shares to date and do not intend to pay cash dividends prior to the completion of our initial business combination. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if
any, capital requirements and general financial condition after completion of our initial business combination. The payment of any cash dividends after our initial business combination will be within the discretion of our board of directors at such
time. Further, if we incur any indebtedness in connection with a business combination, our ability to declare dividends may be limited by restrictive covenants we may agree to in connection therewith.

Our Transfer Agent and Warrant Agent

The transfer agent for the Denali Ordinary Shares and warrant agent for our warrants is VStock. We have agreed to indemnify VStock in its roles as transfer
agent and warrant agent, its agents and each of