# EDGAR Filing Document

**Accession Number:** 0001584541
**File Stem:** 0001193125-25-220480
**Filing Date:** 2025-9
**Character Count:** 20653
**Document Hash:** 55cfba88d8194ae4e9f160b38a7918dc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-220480.hdr.sgml**: 20250926

**ACCESSION NUMBER**: 0001193125-25-220480

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250926

**DATE AS OF CHANGE**: 20250926

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Semnur, Inc.
- **CENTRAL INDEX KEY:** 0001584541
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 462968523
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-95243
- **FILM NUMBER:** 251350530

**BUSINESS ADDRESS:**
- **STREET 1:** 960 SAN ANTONIO ROAD
- **CITY:** PALO ALTO
- **STATE:** CA
- **ZIP:** 94303
- **BUSINESS PHONE:** (650) 516-4310

**MAIL ADDRESS:**
- **STREET 1:** 960 SAN ANTONIO ROAD
- **CITY:** PALO ALTO
- **STATE:** CA
- **ZIP:** 94303

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Semnur Pharmaceuticals, Inc.
- **DATE OF NAME CHANGE:** 20130815
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Scilex Holding Co
- **CENTRAL INDEX KEY:** 0001820190
- **STANDARD INDUSTRIAL CLASSIFICATION:** BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 960 SAN ANTONIO ROAD
- **CITY:** PALO ALTO
- **STATE:** CA
- **ZIP:** 94303
- **BUSINESS PHONE:** (650) 516-4310

**MAIL ADDRESS:**
- **STREET 1:** 960 SAN ANTONIO ROAD
- **CITY:** PALO ALTO
- **STATE:** CA
- **ZIP:** 94303

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Scilex Holding Company/DE
- **DATE OF NAME CHANGE:** 20221117

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Vickers Vantage Corp. I
- **DATE OF NAME CHANGE:** 20200804

### Attached PDF Documents

**Attachment 1:** `ck0000000000-ex99_1.pdf`

_No text found in this document._

**Attachment 2:** `ck0000000000-ex99_2.pdf`

_No text found in this document._

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**Semnur Pharmaceuticals, Inc.**

*(Name of Issuer)*

**Common Stock, par value $0.0001**

*(Title of Class of Securities)*

**81686G113**

*(CUSIP Number)*

**Henry Ji**<br>Chief Executive Officer and President<br>Scilex Holding Co., 960 San Antonio Rd<br>Palo Alto CA 94303<br>(650) 516-4310

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**09/22/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **81686G113** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Scilex Holding Company** | Name of reporting person<br>**Scilex Holding Company** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**500000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**188054849.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**500000.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**188054849.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**188554849.00** | Aggregate amount beneficially owned by each reporting person<br>**188554849.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**79.89%** | Percent of class represented by amount in Row (11)<br>**79.89%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**HC** | Type of Reporting Person (See Instructions)<br>**HC** | |

---

**Comment for Reporting Person:** Note to Rows 7 and 9: Comprised of the following shares of common stock, par value $0.0001 per share ("Common Stock"), of Semnur Pharmaceuticals, Inc. (f/k/a Denali Capital Acquisition Corp.) (the "Issuer"): (i) 542,361 shares issued pursuant to the Business Combination (as defined below) upon the exchange of 5,423,606 shares of Series A Preferred Stock of Old Semnur (as defined below), (ii) 500,000 shares purchased by SHC (as defined below) prior to the Business Combination, and (iii) 12,488 shares issued upon conversion of the SHC Convertible Promissory Note (as defined below) upon the consummation of the Business Combination. Subsequent to the consummation of the Business Combination, SHC transferred 554,849 shares of the Issuer's Common Stock to a third party. The beneficial ownership reported in these rows does not reflect the 5,423,606 shares of Series A Preferred Stock, par value $0.0001 per share, of the Issuer ("Series A Preferred Stock") held by SHC, representing 100% of the outstanding shares of Series A Preferred Stock, which are entitled to vote, together with the holders of Common Stock, and not separately as a class, on an as converted to Common Stock basis on all matters on which the holders of shares of Common Stock have the right to vote (with the number of votes being determined by dividing the stated value (as determined under the Issuer's Certificate of Designations of Series A Preferred Stock, filed with the Delaware Secretary of State on September 22, 2025 (the "Certificate of Designations")) by $10.00) because such shares of Series A Preferred Stock are not convertible into Common Stock.

Note to Rows 8 and 10: Comprised of (i) 181,804,849 shares of Common Stock held by Scilex, Inc., a wholly owned subsidiary of Scilex Holding Company ("SHC") and (ii) 6,250,000 shares of Common Stock held by Scilex Bio, Inc., a majority owned subsidiary of SHC, each of which entities share voting and dispositive power over the shares held by it with SHC.

Note to Row 11: Comprised of the shares of Common Stock referenced in Rows 7 through 10.

Note to Row 13: Percent of class beneficially owned is calculated based on 236,021,088 shares of Common Stock outstanding as of September 25, 2025.  The aggregate voting power of the shares of Common Stock beneficially owned by SHC and referenced in rows 7 through 10 together with 5,423,606 shares of Series A Preferred Stock held by SHC represent 80.34% of total voting power of the Issuer based on 236,021,088 shares of Common Stock and 5,423,606 shares of Series A Preferred Stock outstanding as of September 25, 2025.

| **CUSIP No.** | **81686G113** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Scilex, Inc.** | Name of reporting person<br>**Scilex, Inc.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[ ] (a)<br>[x] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**181804849.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**181804849.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**181804849.00** | Aggregate amount beneficially owned by each reporting person<br>**181804849.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**77.03%** | Percent of class represented by amount in Row (11)<br>**77.03%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** Note to Rows 8 and 10: Comprised of 181,804,849 shares of Common Stock held by Scilex, Inc., a wholly owned subsidiary of SHC, with which it shares voting and dispositive power over these shares.

Note to Row 13: Percent of class beneficially owned is calculated based on 236,021,088 shares of Common Stock outstanding as of September 25, 2025.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.0001

**(b) Name of Issuer:**
Semnur Pharmaceuticals, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
960 San Antonio Road, Palo Alto, CA, 94303

**Item 4. Purpose of Transaction**

The information set forth in Item 3 is incorporated herein by reference.

Subsequent to the consummation of the Business Combination, SHC transferred 554,849 shares of the Issuer's Common Stock and Scilex, Inc. transferred 11,945,151 shares of the Issuer's Common Stock to a third party.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The information set forth in Item 3 is incorporated herein by reference.

Each of the Reporting Persons is deemed to be the beneficial owner of 181,804,849 shares of Common Stock held directly by Scilex, Inc. Additionally, SHC is deemed to be the beneficial owner of an additional 6,750,000 shares of Common Stock comprised of: (i) 500,000 shares of Common Stock held by SHC and (ii) 6,250,000 shares of Common Stock held by Scilex Bio.

**(b)**
The information contained in rows 7 through 10 on the cover page of this Schedule 13D for each Reporting Person is incorporated herein by reference in its entirety.

**(c)**
Upon consummation of the Business Combination, Scilex, Inc. received 193,750,000 shares of the Issuer's Common Stock and Scilex Bio received 6,250,000 shares of the Issuer's Common Stock based on the exchange ratio provided in the Merger Agreement. Upon the consummation of the Business Combination, SHC directly held 1,054,849 shares of the Issuer's Common Stock, comprised of: (i) 500,000 shares of Common Stock that SHC purchased prior to the Business Combination, (ii) 542,361 shares of Common Stock issued in connection with the Business Combination in exchange for SHC's shares of Series A Preferred Stock of Old Semnur (as part of such preferred stock exchange SHC was also issued 5,423,606 shares of Series A Preferred Stock of the Issuer), and (iii) 12,488 shares of Common Stock issued upon conversion of the SHC Convertible Promissory Note previously issued by SPAC to SHC. On September 23, 2025, SHC and Scilex, Inc. transferred an aggregate of 12,500,000 shares (comprised of 554,849 shares held by SHC and 11,945,151 shares held by Scilex, Inc.) of the Issuer's Common Stock to a third party.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

The information set forth in Items 2 and 3 is incorporated herein by reference.

Amended and Restated Registration Rights Agreement

Pursuant to the Merger Agreement, at the closing of the Business Combination, SPAC, SHC, Jiandong "Peter" Xu, FutureTech Capital LLC, and SPAC's directors and officers, Huifeng Chang, Lei Huang, Jim Mao, You "Patrick" Sun and Kevin Vassily, entered into the Registration Rights Agreement, which, among other things, governs the registration of certain shares of Issuer Common Stock for resale, and includes certain customary demand and "piggy-back" registration rights with respect to shares of Issuer Common Stock held by the parties thereto.

The foregoing description of the Registration Rights Agreement and the transactions contemplated thereby is qualified in its entirety by reference to the full text of the Registration Rights Agreement, a copy of which is included as Exhibit 10 to this Schedule 13D and incorporated herein by reference.

Stockholder Agreement

On August 30, 2024, SHC entered into the Stockholder Agreement with SPAC (the "Stockholder Agreement").

Pursuant to the terms of the Stockholder Agreement, from and after the Effective Time, and for so long as SHC beneficially owns any shares of Issuer Series A Preferred Stock, among other things, (i) SHC shall have the right, but not the obligation, to designate a stockholder designee or stockholder designees, regardless of (a) whether such stockholder designee is to be elected to the Issuer Board of Directors ("Issuer Board") at a meeting of stockholders called for the purpose of electing directors (or by consent in lieu of meeting) or appointed by the Issuer Board in order to fill any vacancy created by the departure of any director or increase in the authorized number of members of the Issuer Board or (b) the size of the Issuer Board and (ii) Issuer will be required to take all actions reasonably necessary, and not otherwise prohibited by applicable law, to cause each stockholder designee to be so nominated, elected or appointed to the Issuer Board as more fully described in the Stockholder Agreement. SHC will also have the right to designate a replacement director for any stockholder designee that has been removed from the Issuer Board and the right to appoint a representative of SHC to attend all meetings of the committees of the Issuer Board.

The Stockholder Agreement also provides that Issuer shall not, and shall cause its subsidiaries not to, among others, without the prior written consent of SHC: (i) amend, alter, modify or repeal (whether by merger, consolidation, by operation of law or otherwise) any provisions of the Charter (including the Issuer Certificate of Designations) or the Bylaws that increase or decrease the authorized number of directors constituting the Issuer Board; (ii) take any action that would have the effect of increasing or decreasing the number of directors constituting the Issuer Board; (iii) amend, alter, modify or repeal (whether by merger, consolidation, reclassification, by operation of law or otherwise) any provisions of the respective charters (and any related organizational documents) of any of the committees of the Issuer Board; (iv) file any voluntary petition under any applicable federal or state bankruptcy or insolvency law on behalf of Issuer or any of its subsidiaries; (v) (A) incur or permit any of Issuer's subsidiaries to incur any indebtedness in an aggregate principal amount in excess of $10,000,000) (with "principal amount" for purposes of this definition to include undrawn committed or available amounts) or (B) enter into, modify, amend or renew (or permit any of its subsidiaries to enter into, modify, amend or renew) any contract or other agreement in respect of indebtedness in an aggregate principal amount in excess of $10,000,000 (with "principal amount" for purposes of this definition to include undrawn committed or available amounts); (vi) consummate or otherwise enter into any other contract or agreement to effect any change of control, joint venture or corporate reorganization by Issuer or any of its subsidiaries; (vii) declare or pay any dividend or distribution on Issuer Common Stock, other junior security or parity security; or (viii) purchase, redeem or otherwise acquire for consideration by Issuer, directly or indirectly, any Issuer Common Stock, other junior security or parity security (except as necessary to effect (A) a reclassification of any junior security for or into other junior securities, (B) a reclassification of any parity security for or into other parity securities with the same or lesser aggregate liquidation preference, (C) a reclassification of any parity security into a junior security, (D) the exchange or conversion of any junior security for or into another junior security, (E) the exchange or conversion of any parity security for or into another parity security with the same or lesser per share liquidation amount, (F) the exchange or conversion of any parity security for or into any junior security or (G) the settlement of incentive equity awards (including any applicable withholdings and the net exercise of options) in accordance with the terms thereof).

The Stockholder Agreement will terminate and be of no further force and effect upon the earlier of (i) mutual written agreement of the parties thereto and (ii) the date upon which SHC (together with its affiliates, subsidiaries, successors and assigns (other than the Issuer and its subsidiaries)) ceases to own any shares of Issuer Series A Preferred Stock.

The foregoing description of the Stockholder Agreement and the transactions contemplated thereby is qualified in its entirety by reference to the full text of the Stockholder Agreement, a copy of which is included as Exhibit 11 to this Schedule 13D and incorporated herein by reference.

Semnur Securities Purchase Agreement

On September 23, 2025, SHC, Scilex, Inc., (together with SHC, the "Scilex Sellers") and, solely with respect to certain registration rights described below, the Issuer, entered into a Securities Purchase Agreement ("Biconomy Resale SPA") with Biconomy PTE.LTD ("Biconomy").

Pursuant to the Biconomy Resale SPA, the Scilex Sellers agreed to sell, and Biconomy agreed to purchase, an aggregate of 12,500,000 shares (the "Biconomy Resale SPA Shares") of the Issuer's Common Stock, comprised of: (i) 554,849 shares of Common Stock held by SHC and (ii) 11,945,151 shares of Common Stock held by Scilex, Inc. The Biconomy Resale SPA Shares are being sold for a purchase price of $16.00 per share (the "Purchase Price"), payable in Bitcoin blockchain ("Bitcoin"), with such amount of Bitcoin equal to the quotient of (A) Biconomy's aggregate Purchase Price divided by (B) the spot exchange rate for Bitcoin as published by Coinbase.com at 8:00 p.m. (New York City time) on the trading day immediately prior to the closing date of the purchase.

The foregoing summary of the Biconomy Resale SPA does not purport to be complete and is qualified in its entirety by reference to the full text of the Biconomy Resale SPA, a copy of which is included as Exhibit 12 to this Schedule 13D and is incorporated herein by reference.

Except as set forth herein, the Reporting Persons have no contracts, arrangements, understandings or relationships (legal or otherwise) with respect to any securities of the Issuer, including any class of the Issuer's securities used as a reference security, in connection with any of the following: call options, put options, security-based swaps or any other derivative securities, transfer or voting of any of the securities, finder's fees, joint ventures, loan or option arrangements, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Scilex Holding Company

**Signature:** /s/ Henry Ji

**Name/Title:** Henry Ji, Chief Executive Officer and President

**Date:** 09/26/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Scilex, Inc.

**Signature:** /s/ Henry Ji

**Name/Title:** Henry Ji, Chief Executive Officer

**Date:** 09/26/2025