Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 441

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 441
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 | ) |     | $           |    (590,878 | ) |     | $           |    (590,878 | ) |
| Weighted average shares outstanding — New Semnur, basic and diluted |     |              | 234,126,025 |   |     |             | 234,115,090 |   |     |             | 234,104,155 |   |     |             | 234,093,220 |   |     |             | 234,082,286 |   |
| Net loss per share — New Semnur, basic and diluted                  |     | $            |       (2.52 | ) |     | $           |       (2.52 | ) |     | $           |       (2.52 | ) |     | $           |       (2.52 | ) |     | $           |       (2.52 | ) |

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TRADING MARKET AND DIVIDENDS

Denali

Ticker Symbol and Market Price

The Public Units, Denali Class A Ordinary Shares and Public Warrants are each listed on the OTC Markets under the symbols
“DNQUF,” “DNQAF,” and “DNQWF,” respectively.

The closing prices of the Public Units, Denali Class A Ordinary
Shares and Public Warrants on August 29, 2024, the last trading day before announcement of the execution of the Merger Agreement, were $11.53, $11.48 and $0.0674, respectively. As of August 11, 2025, the most recent practicable date 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