Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 646

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 646
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 the sponsor holds any securities covered by the
registration and shareholder rights agreement. However, at the closing of the Business Combination, such registration and shareholder rights agreement will be amended and restated as contemplated by the Merger Agreement, and the Sponsor will no
longer have the right thereunder to nominate individuals to the New Semnur Board.

Listing of Securities

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

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DESCRIPTION OF NEW SEMNUR SECURITIES

General

The following
description summarizes the most important terms of New Semnur’s securities, as they will be in effect upon the consummation of the Business Combination. The following summary does not purport to be complete and is subject to the Proposed
Charter, the Proposed Bylaws and the provisions of applicable law. A copy of the Proposed Charter is attached as to this proxy statement/prospectus and a copy of the Proposed Bylaws is attached as to this proxy
statement/prospectus. The stockholders are encouraged to read the applicable provisions of the DGCL, the Proposed Charter and the Proposed Bylaws in their entirety for a complete description of the rights and preferences of New Semnur’s
securities following the Business Combination.

Authorized and Outstanding Stock

The Proposed Charter authorizes the issuance of (i) 740,000,000 shares of New Semnur Common Stock, $0.0001 par value per share and (ii) 45,000,000 shares of
undesignated preferred stock, $0.0001 par value per share (the “New Semnur Preferred Stock”). As of the Record Date, there were 2,616,239 shares of Denali Ordinary Shares and no shares of Denali Preferred Stock outstanding.

New Semnur Common Stock Following the Business Combination

The Proposed Charter, which Denali will adopt if the Charter Approval Proposal is approved, provides the following with respect to the rights, powers,
preferences and privileges of New Semnur Common Stock.

Dividend Rights

The holders of New Semnur Common Stock will be entitled to receive ratably those dividends, if any, that may be declared from time to time by the New Semnur
Board upon the shares of capital stock of New Semnur, which dividends may be paid either in cash, in property or in shares of capital stock of New Sem