Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 8

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 8
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Agreement. As a result of the Termination Agreement, the Longevity Merger Agreement is of no further force and effect (other than certain
customary limited provisions that survive the termination pursuant to the terms of the Longevity Merger Agreement) and ancillary agreements
entered into in connection with the Longevity Merger Agreement also automatically terminated in accordance with their respective terms.
As a result of the termination of the Longevity Merger Agreement, Holdco filed the Registration Withdrawal Request on Form RW on August
9, 2024, to withdraw its registration statement on Form S-4, as amended, initially filed with the SEC on March 29, 2023.

Business
Combination with Semnur

On
August 30, 2024, Denali entered into the Agreement and Plan of Merger (the “Merger Agreement”) with Semnur and Merger Sub.

Pursuant
to the Merger Agreement, subject to the terms and conditions set forth therein, (i) prior to the time at which the Business Combination
becomes effective (the “Effective Time”), Denali will change its jurisdiction of incorporation by deregistering as a Cayman
Islands exempted company and continuing and domesticating as a corporation incorporated under the laws of the State of Delaware (the
“Domestication”) and (ii) at the Effective Time, and following the Domestication, Merger Sub will merge with and into Semnur,
with Semnur continuing as the surviving entity and wholly owned subsidiary of Denali. In connection with the consummation of the Business
Combination, Denali will be renamed as “Semnur Pharmaceuticals, Inc.” and Semnur will be renamed as Semnur, Inc.

The
consummation of the proposed Business Combination is subject to certain conditions as further described in the Merger Agreement.

For
more information about the Merger Agreement and the Business Combination, see our Current Report on Form 8-K filed with the SEC on September
5, 2024 and the Semnur Disclosure Statement. Unless specifically stated, this Annual Report on Form 10-K does not give effect to the
Transactions and does not contain the risks associated with the proposed Transactions. Such risks and effects relating to the Transactions
are included in the Semnur Disclosure Statement.

Nasdaq
rules require that we must complete one or more business combinations with a total aggregate fair market value of at least 80% of the
value of the assets