Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 454

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 454
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 prior to the date of this proxy statement/prospectus, the closing prices for each Public Unit, Denali Class A Ordinary Share and Public Warrant were $10.42, $11.54 and $0.10, respectively.

Holders

As of August 12, 2025, the Record Date for the Meeting, there was one holder of record of the Public Units, one holder of record of the Denali Class A Ordinary Shares and one holder of record of the Public Warrants. The number of holders of record does not include a substantially greater number of “street name” holders or beneficial holders whose Public Units, Denali Class A Ordinary Shares and Public Warrants are held of record by banks, brokers and other financial institutions.

Dividend Policy

Denali has not paid any cash dividends on Denali Ordinary Shares to date and does not intend to pay cash dividends prior to the completion of the Business Combination. The payment of cash dividends in the future will be dependent upon New Semnur’s revenues and earnings, if any, capital requirements and general financial condition subsequent to completion of the Business Combination. The payment of any dividends subsequent to the Business Combination will be within the discretion of the New Semnur Board. Further, if New Semnur incurs any indebtedness in connection with the Business Combination, New Semnur’s ability to declare dividends may be limited by restrictive covenants New Semnur has agreed to in connection therewith.

Semnur

There is no public market for shares of Semnur Common Stock and Semnur Preferred Stock.**

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### BUSINESS OF DENALI
Unless the context otherwise requires, for purposes of this section, the terms “we,” “us,” “our,” “the Company” or “Denali” refer to Denali Capital Acquisition Corp. prior to the consummation of the Business Combination.

#### General
Denali is a blank check company incorporated on January 5, 2022 as a Cayman Islands exempted company for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. Denali has neither engaged in any operations nor generated any revenue to date. Based on Denali’s business activities, it is a “shell company” as defined under the Exchange Act because it has no operations and nominal assets consisting almost entirely of cash.

Denali is not presently engaged in, and Denali will not engage in