Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 119

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 119
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 non-redeeming Denali Shareholders. See “ Proposal 1 — The Business Combination Proposal — Total Shares of Common Stock and Preferred Stock Outstanding Upon Consummation of the Business Combination” and “ Questions and Answers About the Business Combination and the Meeting — Questions and Answers About the Business Combination — What are the possible sources and the extent of dilution that public shareholders who elect not to redeem their shares will experience in connection with the Business Combination?” Restrictions on the Transfer of Securities Pursuant to the Letter Agreement, each of the Sponsor, directors and officers has agreed to restrictions on its ability to transfer, assign, or sell the founder shares and Denali Private Placement Units (and the underlying securities), as summarized in the table below. In addition, pursuant to the Sponsor Interest Purchase Agreement, Scilex confirmed its understanding that the founder shares have the terms and restrictions (including being subject to the lockup and other transfer restrictions) set out in the registration statement on Form S-1filed by Denali with the SEC (File No. 333-263123)and declared effective on April 6, 2022.

| Subject Securities |     | Expiration Date                                                                                                                                                                                                                                                                                                                                                                                                   |     | Persons Subject to Restrictions                           |     | Exceptions to Transfer Restrictions                                                                                                                                                                                                                                                                                                                                                                                    |
| Founder Shares     |     | Earliest of (A) one year after the completion of a business combination and (B) subsequent to a business combination, (x) if the closing price of the Denali Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share subdivisions, share capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least |     | The Sponsor, directors and officers of Denali and Scilex. |     | Transfers are permitted (a) to Denali’s officers or directors, any affiliate or family member of any of Denali’s officers or directors, any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or any employees of such affiliates; (b) in the case of an individual, by gift to a member of one of the individual’s immediate family or to a trust, the beneficiary of which is a |

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| Subject Securities |     | Expiration Date                                                                                                                                                                                                                                                                               |     | Persons Subject to Restrictions |     | Exceptions to Transfer Restrictions                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|                    |     | 150 days after a business combination,