Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 375

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 375
---
 no assurance that the parties to the Merger Agreement would waive any such provisions of the Merger Agreement. Conditions to the Obligations of All of the Parties The obligations of each party to the Merger Agreement to consummate the Business Combination are subject to the satisfaction of the following conditions:

| • |     | there will not be in force any order, statute, rule or regulations enjoining or prohibiting the consummation of                                                                                
 the Business Combination; provided that the governmental authority issuing such order has jurisdiction over the parties with respect to the transactions contemplated by the Merger Agreement; |

| • |     | this proxy statement/prospectus shall have been declared effective under the Securities Act and no stop order                           
 suspending the effectiveness of the registration statement shall have been issued or proceedings for that purpose initiated by the SEC; |

| • |     | Denali’s shareholders shall have approved the Proposals at the Meeting by the requisite vote required under 
 law and the governing documents of Denali;                                                                  |

| • |     | Semnur stockholders shall have approved the Merger Agreement by written consent of the requisite number of votes 
 required under law and the governing documents of Semnur; and                                                    |

| • |     | All required filings under the HSR Act, and other applicable anti-trust laws, shall have been made and the                                            
 waiting period or periods under the HSR Act applicable to the transactions contemplated by the Merger Agreement will have expired or been terminated. |

Conditions to the Obligations of Denali and Merger Sub The obligations of Denali and Merger Sub to consummate the Business Combination are subject to the satisfaction, or the waiver at Denali’s and Merger Sub’s sole and absolute discretion, of all the following conditions:

| • |     | Semnur shall have duly performed all of its obligations under the Merger Agreement required to be performed by it                                                                 
 at or prior to the Closing Date in all material respects unless the applicable obligation has a materiality qualifier, in which case, it shall be duly performed in all respects. |

225

| • |     | All of the representations and warranties of Semnur contained in the Merger Agreement disregarding all                                                                                                                                                    
 qualifications and exceptions contained herein relating to materiality or Material Adverse Effect with respect to Semnur, regardless of whether it involved a known risk, shall be true and correct at and as of the date of the Merger Agreement, and be 
 true and correct as of the Closing Date (other than, in