Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 108

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 108
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 amounts held in the Trust Account, the Sponsor has agreed that it will be liable to |

46

| Denali if and to the extent any claims by a third party (other than Denali’s independent registered public accounting firm) for services rendered or products sold to Denali, or a prospective target business with which Denali has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below the lesser of (i) $10.00 per public share or (ii) the actual amount per public share held in the Trust Account as of the date of the liquidation of the Trust Account, due to reductions in value of the trust assets, in each case, net of the amount of interest which may be withdrawn to pay taxes, except as to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and except as to any claims under the indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities Act. |

| • |     | Denali, the Sponsor, each of Denali’s directors and executive officers and Semnur entered into the Sponsor Support Agreement, pursuant to which, among other things, each of Denali’s directors and executive officers and the Sponsor agreed to vote any Denali securities held by them to approve the Business Combination and the other Denali shareholder matters required pursuant to the Merger Agreement, and not to seek redemption of any of their Denali securities in connection with the consummation of the Business Combination. |

| • |     | The Sponsor and Scilex entered into the Sponsor Interest Purchase Agreement, pursuant to which Scilex purchased the Purchased Interests that were held by the Sponsor in consideration of (i) the Cash Consideration and (ii) 300,000 Scilex Shares. Pursuant to the Sponsor Interest Purchase Agreement, Scilex paid the Cash Consideration and has agreed to issue the Scilex Shares to the Sponsor contingent upon and following the occurrence of the Effective Time. The Purchased Interests will convert automatically, on a one-for-one basis, into one New Semnur Common Stock at the effective time of the Domestication pursuant to the terms of the Merger Agreement. |

| • |     | Pursuant to the Registration Rights Agreement, Denali, the Sponsor, Scilex, and certain shareholders of Denali will have the right to require New Semnur, at New Semnur’s expense, to register New Semnur Common