Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 17

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 17
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 interest shall accrue on the unpaid principal balance of the Sponsor Extension Convertible Promissory Note.

At the option of the Sponsor, upon consummation of a business combination, the Sponsor Convertible Promissory Note and the Sponsor Extension
Convertible Promissory Note may be converted in whole or in part into the Conversion Shares. The terms of the Conversion Shares will be identical to those of the Denali Private Placement Shares underlying the Denali Private Placement Units issued to
the Sponsor in connection with the IPO. Any conversion in connection with the Working Capital Loans would not have a material dilutive effect on non-converting shareholders. In the event that Denali does not consummate a business combination, the
Sponsor Convertible Promissory Note will be repaid only from funds held outside of the Trust Account or will be forfeited, eliminated or otherwise forgiven.

FutureTech Notes

On July 11, 2023, Denali issued a convertible promissory note (the “FutureTech Convertible Promissory Note”) in the total principal
amount of $825,000 to FutureTech to extend the period of time Denali has to

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consummate a business combination from July 11, 2023 to October 11, 2023. On October 11, 2023, Denali issued another convertible promissory note in the total principal amount of up to $450,000 to
FutureTech (the “Second FutureTech Convertible Promissory Note”). The Second FutureTech Convertible Promissory Note was issued with an initial principal balance of $50,000, with the remaining $400,000 drawable at Denali’s request
and upon the consent of FutureTech prior to the maturity of the Second FutureTech Convertible Promissory Note. $400,000 of such amount has been utilized to fund the required payment in order to extend the period of time to consummate a business
combination from October 11, 2023 to July 11, 2024. As of March 31, 2025, there was an amount of $1,275,000 outstanding in the form of the convertible promissory notes issued to FutureTech.

Each of the FutureTech Convertible Promissory Note and Second FutureTech Convertible Promissory Note bears interest equivalent to the lowest
short-term Applicable Federal Rate and matures upon the earlier of (i) the closing of the Company’s initial business combination and (ii) the date of the liquidation of the