Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 297

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 297
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 are filed voluntarily, certain investments in TID U.S. Businesses can be subject to mandatory filing requirements and CFIUS may also pursue transactions that were not notified to it voluntarily and ask questions regarding, or impose restrictions, conditions or limitations on, such transactions post-closing.

Although we do not believe the Business Combination is subject to mandatory CFIUS filing requirements, and we do not expect to make a voluntary CFIUS filing, in connection with the Business Combination, there is the risk of CFIUS intervention, before or after the closing of the Business Combination based on the jurisdictional elements described above. CFIUS may decide to block or delay the Business Combination, impose conditions to mitigate national security concerns with respect to the Business Combination or order us to divest all or a portion of the U.S. business of Semnur. Such actions could limit the attractiveness of or prevent us from consummating the Business Combination or limit the attractiveness of or prevent us from pursuing alternative initial business combination opportunities that we believe would otherwise be beneficial to us and our stockholders. As a result, the pool of potential targets with which we could complete an initial business combination may be limited and we may be adversely affected in terms of competing with other special purpose acquisition companies which do not have foreign person status.

Moreover, the process of government review, whether by CFIUS or otherwise, could be lengthy and we have limited time to complete our initial business combination. If we cannot complete our initial business combination by the Extended Date because the review process extends beyond such timeframe or because our initial business combination is ultimately prohibited by CFIUS, we may be required to liquidate. If 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