Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 414

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 414
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 of the other Condition Precedent Proposals. Resolution to be Voted Upon The full text of the resolution to be passed is as follows: “RESOLVED, AS AN ORDINARY RESOLUTION THAT, effective as of the effective time of the Merger, each Semnur Option that is then outstanding shall be converted into the right to receive an option relating to 252

New Semnur Common Stock upon substantially the same terms and conditions as are in effect with respect to such option immediately prior to the effective time of the Merger, including with respect
to vesting and termination-related provisions, as determined in accordance with the Merger Agreement (such proposal, the “Option Exchange Proposal”). The Option Exchange Proposal is conditioned on the approval of the other Condition
Precedent Proposals.”

Recommendation of the Denali Board

THE DENALI BOARD UNANIMOUSLY RECOMMENDS THAT DENALI’S SHAREHOLDERS VOTE “FOR” THE APPROVAL OF THE OPTION EXCHANGE PROPOSAL.

The existence of financial and personal interests of one or more of Denali’s directors may result in a conflict of interest on the part of such
director(s) between what such director or directors may believe is in the best interests of Denali and its shareholders and what such director or directors may believe is best for such director or directors in determining to recommend that
shareholders vote for the Proposals. In addition, Denali’s officers have interests in the Business Combination that may conflict with your interests as a shareholder. See the section above titled “Proposal 1—The Business Combination Proposal — Interests of Certain Persons in the Business Combination” for a further discussion of these considerations.

253

PROPOSAL 9 — THE ADJOURNMENT PROPOSAL

The Adjournment Proposal, if approved, will allow the Chairperson of the Meeting to adjourn the Meeting to a later date or dates to permit further
solicitation of proxies. The Adjournment Proposal will only be presented to our shareholders in the event, based on the tabulated votes, there are not sufficient votes received at the time of the Meeting to approve the Business Combination Proposal,
the Domestication Proposal, the Charter Approval Proposal, the Bylaws Approval Proposal, the Director Election Proposal, the Nasdaq Proposal or the Option Exchange Proposal, or if the Denali Board determines that one or more of the closing
conditions under the Merger Agreement is not satisfied or waived. In no event will the Denali Board postpone the Meeting