Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 47

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 47
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 ownership percentages reflected in the table are based upon the number of Denali Ordinary Shares and shares of Semnur Common Stock issued and outstanding as of the date of this proxy statement/prospectus and are subject to the following additional assumptions:

| • |     | Denali has an aggregate of 43,739 public shares outstanding (comprised of the 29,117 public shares currently                                                                                                                                    
 outstanding and assuming that the holders of 14,622 Public Units have voluntarily separated such units into their component parts prior to the Closing such that the 14,622 public shares underlying such units are available for redemption in 
 connection with the Business Combination) prior to any additional redemptions which may occur in conjunction with the proposed Business Combination;                                                                                            |

| • |     | a maximum of 6,000,000 shares of Semnur Preferred Stock are outstanding as of immediately prior to the Effective                                 
 Time and a maximum of 600,000 shares of New Semnur Common Stock are being issued in respect thereof in connection with the Business Combination; |

| • |     | all 510,000 Denali Private Placement Units are redeemed for a corresponding number of shares of New Semnur Common   
 Stock and New Semnur Warrants that are exercisable for a corresponding number of shares of New Semnur Common Stock; |

| • |     | exercise of all (i) 8,235,378 Public Warrants currently outstanding, (ii) 14,622 Public Warrants issued upon                                      
 redemption of the Public Units, and (iii) 510,000 Denali Private Placement Warrants issued upon redemption of the Denali Private Placement Units; |

| • |     | approval of the Option Exchange Proposal and that all Semnur stock options are exchanged for options to acquire 
 50,000,000 shares of New Semnur Common Stock;                                                                   |

14

| • |     | the 24,400,000 shares of Semnur Common Stock issued pursuant to the Consulting Services Agreements are converted                                             
 into an aggregate of 30,500,000 shares of New Semnur Common Stock in connection with the Business Combination pursuant to the terms of the Merger Agreement; |

| • |     | all Denali Promissory Notes are converted into an aggregate of 323,161 shares of New Semnur Common Stock, based                                      
 on principal and accrued interest thereunder through September 30, 2025, of which 18,000 shares of New Semnur