Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 44

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 44
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.13 per share for the public shareholders based on amounts on       
 deposit in the Trust Account as of March 31, 2025. The closing price of the Denali Class A Ordinary Shares on Nasdaq as of March 31, 2025 was $12.18. The Initial Shareholders waived the right to any liquidation distribution with respect to any 
 founder shares held by them. Denali has the option to extend the deadline to complete the Business Combination beyond December 11, 2025. This extension would require approval by Denali’s stockholders through a proxy vote.                       |

| Q: | What happens to the funds deposited in the Trust Account following the Business Combination? |

| A: | Following the Closing, holders of Denali Class A Ordinary Shares exercising redemption rights will receive                                                                                                                                              
 their per share redemption price out of the funds in the Trust Account. The balance of the funds will be released to Semnur to fund working capital needs of New Semnur. As of October 17, 2024, there was approximately $8.9 million in the            
 Trust Account. On July 11, 2024, Denali held an extraordinary general meeting to vote on a proposal to approve an amendment to its Current Denali Charter to extend the deadline by which it must complete its initial business combination from        
 July 11, 2024 to April 11, 2025. In connection with this proposal, it was required to give its public shareholders redemption rights. A total of 3,785,992 Denali Class A Ordinary Shares were redeemed at a per share redemption price of $11.47. As a 
 result, approximately $43.4 million was removed from the Trust Account subsequent to July 11, 2024. On April 11, 2025, Denali held an extraordinary general meeting to vote on a proposal to approve an amendment to its Current Denali                 
 Charter to extend the deadline by which it must complete its initial business combination from April 11, 2025 to December 11, 2025. In connection with this proposal, it was required to give its public shareholders redemption rights. A total of     
 708,098 Denali Class A Ordinary Shares were redeemed at a per share redemption price of $12.17. As a result, approximately $8.6 million was removed from the Trust Account subsequent to April 11, 2025. Denali estimates that approximately $12.10 per 
 issued and outstanding share issued in the IPO