Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 395

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 395
---
VAL PROPOSAL.

The existence of financial and personal interests of one or more of Denali’s directors may result in a conflict of interest on the part of such
director(s) between what such director or directors may believe is in the best interests of Denali and its shareholders and what such director or directors may believe is best for such director or directors in determining to recommend that
shareholders vote for the Proposals. In addition, Denali’s officers have interests in the Business Combination that may conflict with your interests as a shareholder. See the section above titled “Proposal 1—The Business Combination Proposal — Interests of Certain Persons in the Business Combination” for a further discussion of these considerations.

237

PROPOSAL 4 — THE BYLAWS APPROVAL PROPOSAL

Overview

Our shareholders are
being asked to approve and adopt the Proposed Bylaws in the form attached to this proxy statement/prospectus as , which, if approved, would take effect following the consummation of the Domestication. Prior to the Effective Time
and in connection with change of the post-Business Combination company’s corporate name from “Denali Capital Acquisition Corp.” to “Semnur Pharmaceuticals, Inc.”, the Denali Board will take such actions as are necessary
to amend and restate the Proposed Bylaws to reflect the name of Semnur Pharmaceuticals, Inc. in the Proposed Bylaws.

Reasons for the Approval of the Bylaws Approval Proposal

In the judgment of the Denali Board, the Proposed Bylaws are necessary to adequately address the needs of the post-Business Combination company. Under
the Merger Agreement, the approval of the Bylaws Approval Proposal is a condition, among other conditions, to the adoption of the Business Combination Proposal and vice versa. Accordingly, if the Business Combination Proposal is not approved,
the Bylaws Approval Proposal will have no effect.

Vote Required for Approval

The approval of the Bylaws Approval Proposal requires a special resolution under Cayman Islands law, being the affirmative vote of holders of at least two-thirds (2/3) of the Denali Ordinary Shares present in person or represented by proxy and entitled to vote thereon and who vote at the Meeting or any adjournment or postponement thereof. Abstentions and
broker non-votes, while considered present for the purposes of establishing a quorum, will not count as votes at the Meeting, and otherwise will have no effect on the proposal.

The Bylaws Approval Proposal is conditioned upon the approval (or waiver) of each of