Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 97

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 97
---
 to, any person or entity that has made, or to the respective party’s knowledge, is considering making, a proposal with respect to an Alternative Transaction; or |

| • |     | approve, recommend or enter into any Alternative Transaction or any contract related to any Alternative Transaction. |

39

The term “Alternative Transaction” means (other than the transactions contemplated by the Merger Agreement) (i) with respect to Semnur: (x) any transaction or series of related transactions under which any persons or entities, directly or indirectly, acquires or otherwise purchases Semnur, including through merger, consolidation, share exchange, business combination, amalgamation, recapitalization, other similar transaction, (y) any sale, exchange, transfer or other disposition of 25% or more of the total assets of Semnur or any class or series of the share capital or capital stock or other equity interests of Semnur in a single transaction or series of related transactions that, if consummated, would result in any other person owning 25% or more of any class of equity or voting securities of Semnur; or (ii) with respect to Denali, any “Business Combination” as such term is defined in Denali’s organizational documents. Conditions to the Obligations of all of the Parties The obligations of each party to the Merger Agreement to consummate the Business Combination are subject to the satisfaction of the following conditions:

| • |     | there will not be in force any order, statute, rule or regulations enjoining or prohibiting the consummation of the Business Combination; provided that the governmental authority issuing such order has jurisdiction over the parties with respect to the transactions contemplated by the Merger Agreement; |

| • |     | this proxy statement/prospectus shall have been declared effective under the Securities Act and no stop order suspending the effectiveness of the registration statement shall have been issued or proceedings for that purpose initiated by the SEC; |

| • |     | Denali’s shareholders shall have approved the Proposals at the Meeting by the requisite vote required under law and the governing documents of Denali; |

| • |     | Semnur stockholders shall have approved the Merger Agreement by written consent of the requisite number of votes required under law and the governing documents of Semnur; and |

| • |     | all required filings under the HSR Act shall have been made and the waiting period or periods under the HSR Act applicable to the transactions contemplated by the Merger Agreement will have expired