Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 287

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 287
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 we liquidate, we cannot guarantee the per share amount that our public stockholders will receive and our warrants will expire worthless. This will also cause you to lose the investment opportunity in a target company, and the chance of realizing future gains on your investment through any price appreciation in the combined company.

Denali will be forced to liquidate the Trust Account if it cannot consummate a business combination by December 11, 2025. In the event of a liquidation, Denali’s public shareholders will receive $12.18 per Denali Class A Ordinary Share and the Warrants will expire worthless.

If Denali is unable to complete a business combination by December 11, 2025, and is forced to liquidate, the per share liquidation distribution will be $12.18. Furthermore, if Denali is forced to liquidate, all outstanding Warrants will expire worthless. Denali has the option to extend the deadline to complete the Business Combination beyond December 11, 2025. This extension would require approval by Denali’s shareholders through a proxy vote.

Any distributions received by Denali’s shareholders could be viewed as an unlawful payment if it was proved that immediately following the date on which the distribution was made, Denali was unable to pay its debts as they fell due in the ordinary course of business.

The Current Denali Charter provides that it will continue in existence only until December 11, 2025. If Denali is unable to consummate a transaction by such date or if it fails to obtain shareholder approval to extend beyond December 11, 2025, upon notice from Denali, the trustee of the Trust Account will distribute the amount in the Trust Account to Denali’s public shareholders. Concurrently, Denali shall pay, or reserve for payment, from funds not held in trust, its liabilities and obligations, although Denali cannot assure you that there will be sufficient funds for such purpose.**

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**Denali expects that all costs and expenses associated with implementing its plan of dissolution, as well as payments to any creditors, will be funded from amounts held outside the Trust Account, although it cannot assure you that there will be sufficient funds for such purpose. Denali will depend on sufficient interest being earned on the proceeds held in the Trust Account to pay any tax obligations it may owe or for working capital purposes.

However, Denali may not properly assess all claims that may be potentially brought against it. As such, Denali’s shareholders could potentially be liable for any