Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 693

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 693
---
 Ordinary Shares outstanding (each of which will be converted into shares of New Semnur Common Stock in connection with the closing of the Business Combination, as described elsewhere in this proxy statement/prospectus). The 43,739 public shares sold in the IPO are freely tradable without restriction or further registration under the Securities Act, except for any shares purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. The 2,062,500 Denali Class B Ordinary Shares owned collectively by the Initial Shareholders and Scilex are restricted securities under Rule 144, in that they were issued in private transactions not involving a public offering. 422

As of the date of this proxy statement/prospectus, there are a total of 8,235,378 Public Warrants outstanding, 14,622 Public Warrants underlying the Private Units, and 510,000 Denali Private Placement Warrants underlying the Denali Private Placement Units (each of which will be converted into New Semnur Warrants in connection with the closing of the Business Combination). Each warrant is exercisable for one Denali Class A Ordinary Share (or New Semnur Common Stock following the closing of the Business Combination), in accordance with the terms of the Warrant Agreement governing the Public Warrants and the Private Warrants. 8,235,378 of these warrants are Public Warrants and are freely tradable, except for any warrants purchased by one of our affiliates within the meaning of Rule 144 under the Securities Act. In addition, we will be obligated to maintain an effective registration statement under the Securities Act covering the 8,760,000 shares of New Semnur Common Stock that may be issued upon the exercise of the New Semnur Warrants.

#### Rule 701
In general, under Rule 701 of the Securities Act as currently in effect, each of Semnur’s employees, consultants or advisors who purchases common stock from Semnur in connection with a compensatory stock plan or other written agreement executed prior to the completion of the Business Combination is eligible to resell those equity shares in reliance on Rule 144, but without compliance with some of the restrictions, including the holding period, contained in Rule 144.

<div align='center'>423</div>

COMPARISON OF SHAREHOLDERS’ RIGHTS Denali is a Cayman Islands exempted company. The Companies Act of the Cayman Islands, Cayman Islands law generally and the Current Denali Charter govern the rights of its shareholders. The