Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 1085

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 1085
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 securities will be approved for listing on Nasdaq. Shareholders should note that, pursuant to Amendment No. 1 to the Merger Agreement, dated as of April 16, 2025, and Amendment No. 2 to the Merger Agreement, dated as of July 22, 2025, the requirement that the New Semnur Common Stock and New Semnur Warrants be approved for listing on Nasdaq or any other stock exchange is no longer a condition to the consummation of the Business Combination. Therefore, the Business Combination may be completed even if Nasdaq does not approve the listing application for New Semnur’s securities.

Alt-4

In this prospectus, Denali is registering the resale of up to 201,118,000 shares of New Semnur Common Stock that will be held by the Selling Stockholders named herein immediately following the completion of the Business Combination. The Resale Shares that are being registered for resale would constitute approximately 83.76%, 83.76%, 83.76%, 83.7% and 83.77% of the total outstanding shares of New Semnur Common Stock outstanding following the completion of the Business Combination under the no redemption, 25% redemption, 50% redemption, 75% redemption and maximum redemption scenarios.

We will not receive any proceeds from the sale of the Resale Shares by the Selling Stockholders pursuant to this prospectus.

Our registration of the securities covered by this prospectus does not mean that the Selling Stockholders will offer or sell any of the shares of New Semnur Common Stock whose resale is being registered hereunder. The Selling Stockholders may offer, sell or distribute all or a portion of such shares of New Semnur Common Stock publicly or through private transactions at prevailing market prices or at negotiated prices. The Selling Stockholders will bear all commissions and discounts, if any, attributable to their sales. We provide more information about how the Selling Stockholders may sell such shares of New Semnur Common Stock in the section entitled “Plan of Distribution.”

More information about Denali, New Semnur and the Business Combination is contained in the accompanying proxy statement/prospectus. We encourage you to read the accompanying proxy statement/prospectus carefully. In particular, you should review the matters discussed under the caption “Risk Factors” beginning on page 72. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the securities to be issued in the Business Combination or the securities to