Company: SMNR
Filing Date: 2025-08-22
Form Type: 425
Source: 0001213900-25-079506
Chunk: 1

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-22
Form: 425
Chunk 1
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 |     | DNQAF     |     | OTCQB               |
| Warrants,                                                                                              
 each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share |     | DNQWF     |     | OTCQB               |

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 1.01 Entry into a Material Definitive Agreement.

Securities Purchase Agreement

On August 20, 2025, Denali Capital Acquisition Corp., a Cayman Islands exempted company (the “Company” or “Denali”), entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Semnur Pharmaceuticals, Inc., a Delaware corporation (“Semnur”), and the purchaser party thereto (the “Purchaser”). There are no material relationships between the Company or its affiliates and the Purchaser, other than in respect of the Purchase Agreement.

Pursuant to the Purchase Agreement, the Purchaser has agreed to purchase an aggregate of 1,250,000 shares of common stock, par value $0.0001 per share (the “PIPE Shares”), of the combined company (“New Semnur”) following the consummation of the transactions (the “Business Combination”) contemplated by the Agreement and Plan of Merger, dated August 30, 2024, as amended on April 16, 2025, and July 22, 2025 (the “Merger Agreement”), by and among the Company, Semnur, and Denali Merger Sub Inc. The purchase price for the PIPE Shares is $16.00 per share, for an aggregate purchase price of $20,000,000 (the “PIPE Financing”).

The closing of the PIPE Financing is subject to customary conditions and is expected to occur immediately following the consummation of the Business Combination.

The Purchase Agreement also provides that, no earlier than the closing of the PIPE Financing and no later than 20 business days