Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 93

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 93
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, Merger Sub will have merged with and into Semnur, with Semnur surviving the Merger as a wholly owned subsidiary of Denali. Merger Sub owns no material assets and does not operate any business.

Merger Sub’s principal executive office is located at Denali’s principal executive offices at 437 Madison Avenue, 27 Floor, New York, NY 10022.

The Merger Agreement

On August 30, 2024, Denali, Merger Sub, and Semnur entered into the Merger Agreement. Pursuant to the Merger Agreement and subject to the terms and conditions set forth therein, (i) prior to the Effective Time, Denali will change its jurisdiction of incorporation by deregistering as a Cayman Islands exempted company and continuing and domesticating as a corporation incorporated under the laws of the State of Delaware (see “Proposal 2 — The Domestication Proposal” for further information on the Domestication) and (ii) at the Effective Time, and following the Domestication, Merger Sub will merge with and into Semnur, with Semnur continuing as the surviving entity and wholly owned subsidiary of Denali. The Denali Board has (a) approved and declared advisable the Merger Agreement, the Business Combination and the other transactions contemplated thereby and (b) resolved to recommend that Denali’s shareholders approve and adopt the Merger Agreement and the transactions contemplated thereby, including the Business Combination.

The Merger Agreement was amended on April 16, 2025, pursuant to Amendment No. 1 to the Merger Agreement, by and among Denali, Merger Sub and Semnur. Among other things, the Merger Agreement Amendment (i) modifies certain covenants of the parties to address the delisting of the Denali Securities from the Nasdaq Capital Market, (ii) extends the Outside Date to September 30, 2025, and (iii) requires Denali to amend its organizational documents to extend the period of time within which Denali can complete a business combination to December 11, 2025, or such other date that is mutually agreed to by Semnur and Denali.**

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**Merger Consideration and Preferred Consideration

As a result of and upon the closing of the Business Combination, among other things, (i) each outstanding share of Semnur Common Stock as of immediately prior to the Effective Time (other than shares held by Semnur or its subsidiaries