Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 118

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 118
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 Pursuant to the Sponsor Interest Purchase Agreement, Scilex paid the Cash Consideration. |
|:--------------|:----|:----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Huifeng Chang |     | Huifeng Chang, a director of Denali, currently holds 20,000 Denali Class B Ordinary Shares. Upon the completion of the Business Combination, Huifeng Chang shall hold a total of 20,000 shares of New Semnur Common Stock.                                            |     |                                                                                                                                                                                                                                                                                                                                                                         |
| Lei Huang     |     | Lei Huang, the Chief Executive Officer and Director of Denali, currently holds 50,000 Denali Class B Ordinary Shares. Upon the completion of the Business Combination, Lei Huang shall hold a total of 50,000 shares of New Semnur Common Stock.                      |     |                                                                                                                                                                                                                                                                                                                                                                         |
| Jim Mao       |     | Jim Mao, a director of Denali, currently holds 20,000 Denali Class B Ordinary Shares. Upon the completion of the Business Combination, Jim Mao shall hold a total of 20,000 shares of New Semnur Common Stock.                                                        |     |                                                                                                                                                                                                                                                                                                                                                                         |
| You Sun       |     | You Sun, the Chief Financial Officer of Denali, currently holds 20,000 Denali Class B Ordinary Shares. Upon the completion of the Business Combination, You Sun shall hold a total of 20,000 shares of New Semnur Common Stock.                                       |     |                                                                                                                                                                                                                                                                                                                                                                         |
| Kevin Vassily |     | Kevin Vassily, a director of Denali, currently holds 20,000 Denali Class B Ordinary Shares. Upon the completion of the Business Combination, Kevin Vassily shall hold a total of 20,000 shares of New Semnur Common Stock.                                            |     |                                                                                                                                                                                                                                                                                                                                                                         |

52

| Denali Underwriters |     | The Denali Underwriters are expected to receive the Common Stock Consideration upon closing of the Business Combination. |     | Remaining $2,021,250 of the aggregate Deferred Discount are expected to remain payable to the Denali Underwriters at Closing in cash in accordance with the terms of the Underwriting Agreement. |

The retention of shares by the Sponsor and the reimbursements payable to the Sponsor at Closing will not result in a material dilution of the equity interests of non-redeeming Denali Shareholders. See “ Proposal 1 — The Business Combination Proposal —