Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 122

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 122
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 Scenario The following table summarizes the sources and uses for funding the Business Combination assuming maximum redemptions by public shareholders. This scenario assumes that all cash held in the Trust Account is used for such redemptions and reflects the maximum number of public shares that can be redeemed without violating the conditions of the Merger Agreement.

| Sources of Funds(1)                      |     |   |         |     | Uses of Funds(1)                      |     |   |             |   |
|:-----------------------------------------|:----|:--|--------:|:----|:--------------------------------------|:----|:--|------------:|:--|
| Cash balance of Semnur prior to Business 
 Combination(2)                           |     | $ |   7,379 |     | Denali Class A Ordinary Shares public 
 redemption(4)                         |     | $ |     535,667 |   |
| Cash balance of Denali prior to Business 
 Combination(2)                           |     |   |   2,736 |     | Transaction Fees and                  
 Expenses(5)                           |     |   |  20,169,958 |   |
| Existing Cash held in Trust              
 Account(3)                               |     |   | 535,667 |     | Payment of Denali                     
 Promissory                            
 Notes(6)                              |     |   |   2,986,380 |   |
|                                          |     |   |         |     | Remaining Cash on Balance Sheet(7)    |     |   | (23,146,223 | ) |
| Total Sources                            |     | $ | 545,782 |     | Total Uses                            |     | $ |     545,782 |   |

65

| (1) | Totals may be affected by rounding. |

| (2) | As of March 31, 2025. |

| (3) | Reflects cash plus accrued interest as of April 15, 2025. |

| (4) | Reflects the redemption of Denali Class A Ordinary Shares by public stockholders. |

| (5) | Reflects the repayment of an estimated legal, audit, consulting and other transaction-related expenses. |

| (6) | Reflects the estimated repayment amount of the Denali Promissory Notes due to the Sponsor, FutureTech and                                            
 Scilex of $2,986,380 in aggregate principal and interest as of June 30, 2025, assuming each monthly extension