Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 705

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 705
---
 the New Semnur Preferred Stock, see the section titled “Description of New Semnur Securities — New Semnur Preferred Stock Following the Business Combination” and the section titled “Certain Relationships and Related Party Transactions — Certain Transactions of Denali — Stockholder Agreement with Scilex.” |

443

<div align='center'>**CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS**</div>

**Certain Transactions of Denali

Founder Shares

On February 3, 2022, the Sponsor paid an aggregate of $25,000, or approximately $0.012 per share, in consideration of 2,156,250 Denali Class B Ordinary Shares, par value $0.0001 per share. In March 2022, the Sponsor transferred 20,000 Denali Class B Ordinary Shares to the Chief Financial Officer of Denali and an aggregate of 110,000 Denali Class B Ordinary Shares to certain members of the board of directors of Denali. The number of Denali Class B Ordinary Shares issued was determined based on the expectation that such Denali Class B Ordinary Shares would represent approximately 20% of the issued and outstanding shares upon completion of the IPO (not including the Denali Private Placement Shares that may be issued upon redemption of the Denali Private Placement Units). On May 23, 2022, the Sponsor forfeited 93,750 Denali Class B Ordinary Shares based on the over-allotment option partially exercised by the underwriters. On September 4, 2024, the Sponsor transferred 500,000 Denali Class B Ordinary Shares to Scilex pursuant to the Sponsor Interest Purchase Agreement.

Denali Private Placement Units

On April 11, 2022, Denali completed the sale to the Sponsor of an aggregate of 510,000 Denali Private Placement Units for a purchase price of $10.00 per whole unit for an aggregate of $5,100,000. Each whole Private Placement Unit will consist of one Denali Private Placement Share and one Denali Private Placement Warrant. Each Denali Private Placement Warrant entitles the holder to purchase one Denali Class A Ordinary Share at a price of $11.50 per share, subject to adjustment. The Denali Private Placement Units will not be transferable, assignable, or saleable until 30 days after the completion by Denali of an initial business combination.

Original Sponsor Letter Agreement

On April 6, 2022, Denali entered into the Sponsor Letter Agreement with the Sponsor