Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 308

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 308
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 shareholders are being asked to approve and adopt the Merger Agreement and the transactions contemplated thereby, including the Business Combination. Our shareholders should read carefully this proxy statement/prospectus in its entirety, including the section below titled “The Merger Agreement,” for more detailed information concerning the Business Combination and the terms and conditions of the Merger Agreement.

All Denali shareholders should read carefully this proxy statement/prospectus in its entirety for more detailed information concerning the Merger Agreement and the Merger Agreement Amendment, copies of each of which are attached as Annex A-1 and Annex A-2, respectively, to this proxy statement/prospectus. You are urged to read carefully the Merger Agreement in its entirety before voting on this Business Combination Proposal.

Denali may consummate the Business Combination only if all of the Condition Precedent Proposals are approved by the Denali shareholders in person or represented by proxy and entitled to vote thereon and who vote at the Meeting or any adjournment or postponement thereof.

Structure of the Business Combination

In accordance with Merger Agreement and prior to closing of the Business Combination, Denali will complete the Domestication pursuant to which Denali’s jurisdiction of incorporation will be changed from the Cayman Islands to the State of Delaware. Following the Domestication, Merger Sub will merge with and into Semnur, the separate corporate existence of Merger Sub will cease and Semnur will be the surviving corporation and a wholly owned subsidiary of New Semnur.

Background of the Business Combination

Denali is a Cayman Islands exempted company incorporated as a blank check company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. The Business Combination with Semnur is the result of an active search for a potential business combination transaction utilizing the network and investing and transaction experience of Denali’s management team and the Denali Board. The terms of the Merger Agreement are the result of arm’s–length negotiations between representatives of Semnur and Denali. The following is a brief discussion of the background of these negotiations, the Merger Agreement and the Business Combination. It does not purport to catalogue every conversation and correspondence among representatives of Denali, Semnur and their respective advisors.

Denali was incorporated on January 5, 2022 as an exempted company with limited liability for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapital