Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 458

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 458
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 similar business combination with one or more businesses or entities. Denali has neither engaged in any operations nor generated any revenue to date. Based on Denali’s business activities, it is a “shell company” as defined under the Exchange Act because it has no operations and nominal assets consisting almost entirely of cash.

Denali is not presently engaged in, and Denali will not engage in, any substantive commercial business until it completes the Business Combination with Semnur or another target business.

#### Initial Public Offering
On April 11, 2022, Denali consummated its IPO of 8,250,000 Public Units, including the issuance of 750,000 Public Units as a result of the underwriters’ partial exercise of their over-allotment option. Each Public Unit consists of one Denali Class A Ordinary Share, and one Public Warrant, each whole warrant entitling the holder thereof to purchase one Denali Class A Ordinary Share at an exercise price of $11.50 per share. The Public Units were sold at a price of $10.00 per unit, generating gross proceeds to Denali of $82,500,000.

Substantially concurrently with the consummation of the IPO, Denali completed the Private Placement of 510,000 Denali Private Placement Units at a purchase price of $10.00 per Denali Private Placement Unit to the Sponsor (including the private placement of 30,000 units as a result of the underwriters’ partial exercise of their over-allotment option), generating gross proceeds to Denali of $5,100,000. Each whole Denali Private Placement Unit consists of one Denali Class A Ordinary Share and one Denali Private Placement Warrant. Each Denali Private Placement Warrant entitles the holder to purchase one Denali Class A Ordinary Share at a price of $11.50 per share, subject to adjustment. The Denali Private Placement Warrants have terms and provisions that are identical to those of the Public Warrants sold as part of the Public Units in the IPO. In addition, the Denali Private Placement Warrants are entitled to certain registration rights. The Denali Private Placement Units and Denali Private Placement Warrants (including the Denali Class A Ordinary Shares issuable upon exercise of the Denali Private Placement Warrant) will not be transferable, assignable or salable until 30 days after Denali completes the Business Combination with Semnur or another target business.

#### Offering Proceeds Held in Trust
On the closing date of the