Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 433

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 433
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ali securities as “capital assets” within the meaning of Section 1221 of the Code (generally, property held for investment). This discussion does not address all aspects of U.S. federal income taxation that may be important to holders in light of their individual circumstances, including holders subject to special treatment under the U.S. tax laws, such as, for example:

| • |     | banks or other financial institutions, underwriters, or insurance companies; |

| • |     | traders in securities who elect to apply a mark–to–market method of accounting; |

| • |     | real estate investment trusts and regulated investment companies; |

| • |     | tax–exempt organizations, qualified retirement plans, individual retirement accounts, or other tax-deferred accounts; |

| • |     | expatriates or former long–term residents of the United States; |

| • |     | subchapter S corporations, partnerships or other pass–through entities or investors in such entities; |

| • |     | dealers or traders in securities, commodities or currencies; |

| • |     | grantor trusts; |

| • |     | persons subject to the alternative minimum tax; |

| • |     | U.S. persons whose “functional currency” is not the U.S. dollar; |

| • |     | persons who received Denali Ordinary Shares or will receive New Semnur Common Stock through the issuance of restricted stock under an equity incentive plan or through a tax–qualified retirement plan or otherwise as compensation; |

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| • |     | persons who own (directly or through attribution) 5% or more (by vote or value) of the outstanding Denali Ordinary Shares or, after the Business Combination, New Semnur Common Stock; |

| • |     | holders holding Denali securities or, after the Business Combination, Domesticated Denali securities as a position in a “straddle,” as part of a “synthetic security” or “hedge,” as part of a “conversion transaction,” or other integrated investment or risk reduction transaction; |

| • |     | controlled foreign corporations, passive foreign investment companies, or foreign corporations with respect to which there are one or more United States shareholders within the meaning of Treasury Regulation Section 1.367(b)–3(b)(1)(ii); or |

| • |     | the Sponsors or their affiliates. |

As used in this proxy statement/prospectus, the term “U.S. Holder” means a beneficial owner