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[S-4/A] Denali Capital Acquisition Corp. Unit Amended Business Combination Registration

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
S-4/A
Rhea-AI Filing Summary

Amendment No. 6 to the Form S-4 is an exhibits-only filing that updates Exhibit 107 and does not change the proxy statement/prospectus substantive disclosures. The filing confirms that Denali Capital Acquisition Corp. intends to effect a domestication from the Cayman Islands to Delaware and, in connection with the Business Combination, change its corporate name to Semnur Pharmaceuticals, Inc. The Registration Statement treats the continuing entity as the Company following the Domestication and Business Combination.

Item 21 lists exhibits and schedules including the Agreement and Plan of Merger and its amendments, forms of certificates of domestication and incorporation, registration and stockholder agreements, multiple convertible promissory notes, a 2024 Semnur stock option plan, a fairness opinion by CB Capital Partners, and consents from counsel and auditors. Certain exhibits are omitted or redacted under Regulation S-K and Item 601(b)(10), with the registrant agreeing to furnish omitted materials to the SEC upon request.

L'Emendamento n. 6 al Modulo S-4 è un deposito costituito esclusivamente da allegati che aggiorna l'Allegato 107 e non modifica le divulgazioni sostanziali della dichiarazione per voto/prospectus. Il deposito conferma che Denali Capital Acquisition Corp. intende effettuare la domesticazione dalle Isole Cayman al Delaware e, in relazione alla Business Combination, modificare la propria ragione sociale in Semnur Pharmaceuticals, Inc. La dichiarazione di registrazione considera l'entità continuata come la Società dopo la domesticazione e l'operazione di combinazione aziendale.

L'Item 21 elenca gli allegati e gli schedule, tra cui l'Agreement and Plan of Merger e le sue modifiche, modelli di certificati di domesticazione e di incorporazione, accordi di registrazione e tra azionisti, più cambiali convertibili, un piano di stock option Semnur 2024, un parere di equità redatto da CB Capital Partners e consensi da parte di consulenti legali e revisori. Alcuni allegati sono omessi o redatti ai sensi del Regulation S-K e dell'Item 601(b)(10); il soggetto registrante si impegna a fornire i materiali omessi alla SEC su richiesta.

La Enmienda n.º 6 al Formulario S-4 es una presentación solo de anexos que actualiza el Anexo 107 y no cambia las divulgaciones sustantivas de la declaración por poder/prospecto. La presentación confirma que Denali Capital Acquisition Corp. tiene la intención de efectuar un traslado de domicilio (domestication) desde las Islas Caimán a Delaware y, en relación con la Business Combination, cambiar su razón social a Semnur Pharmaceuticals, Inc. La Declaración de Registro trata a la entidad continuadora como la Sociedad tras la domesticación y la combinación de negocios.

El Ítem 21 enumera anexos y schedules que incluyen el Agreement and Plan of Merger y sus enmiendas, formularios de certificados de domesticación e incorporación, acuerdos de registro y entre accionistas, varios pagarés convertibles, un plan de opciones sobre acciones Semnur 2024, una opinión de equidad (fairness opinion) de CB Capital Partners y consentimientos de asesores legales y auditores. Ciertos anexos se omiten o redactan conforme al Regulation S-K y al Ítem 601(b)(10); el registrante acepta proporcionar los materiales omitidos a la SEC previa solicitud.

Form S-4에 대한 수정안 제6호는 전시물(Exhibits) 전용 제출로서 Exhibit 107을 갱신하며 위임장/투자설명서의 실질적 공시 내용은 변경하지 않습니다. 해당 제출서류는 Denali Capital Acquisition Corp.가 케이맨 제도에서 델라웨어로의 도미스티케이션(본점 이전)을 시행할 의향이 있으며, 사업결합(Business Combination)과 관련하여 법인명을 Semnur Pharmaceuticals, Inc.로 변경할 예정임을 확인합니다. 등록서류는 도미스티케이션 및 사업결합 이후 계속되는 실체를 회사(Company)로 간주합니다.

Item 21은 합병계약서(Agreement and Plan of Merger) 및 그 수정본, 도미스티케이션 및 설립 증명서 양식, 등록 및 주주계약, 다수의 전환가능 약속어음, 2024년 Semnur 주식매수선택권 계획, CB Capital Partners의 공정성 의견서(fairness opinion), 법률고문 및 감사인의 동의서 등 전시물과 일정들을 열거합니다. 특정 전시물은 Regulation S-K 및 Item 601(b)(10)에 따라 누락되거나 편집(부분 삭제)되어 있으며, 제출인은 요청 시 누락된 자료를 SEC에 제공하기로 합의했습니다.

L'amendement n°6 au formulaire S-4 est un dépôt composé uniquement d'annexes qui met à jour l'Annexe 107 et ne modifie pas les informations substantielles de la déclaration de procuration/prospectus. Le dépôt confirme que Denali Capital Acquisition Corp. a l'intention d'effectuer une domestication des îles Caïmans vers le Delaware et, dans le cadre de la Business Combination, de changer sa dénomination sociale en Semnur Pharmaceuticals, Inc. La déclaration d'enregistrement considère l'entité poursuivante comme la Société suite à la domestication et à la Business Combination.

L'Item 21 énumère les annexes et schedules, y compris l'Agreement and Plan of Merger et ses amendements, des formulaires de certificats de domestication et d'incorporation, des accords d'enregistrement et d'actionnaires, plusieurs billets à ordre convertibles, un plan d'options sur actions Semnur 2024, une opinion d'équité (fairness opinion) de CB Capital Partners et des consentements d'avocats et d'auditeurs. Certains annexes sont omis ou expurgés en vertu du Regulation S-K et de l'Item 601(b)(10); le déclarant accepte de fournir les documents omis à la SEC sur demande.

Nachtrag Nr. 6 zum Formular S-4 ist eine ausschließlich aus Anhängen bestehende Einreichung, die Anlage 107 aktualisiert und die substanziellen Angaben der Proxy Statement/Des Prospekts nicht ändert. Die Einreichung bestätigt, dass Denali Capital Acquisition Corp. beabsichtigt, eine Domestizierung von den Kaimaninseln nach Delaware vorzunehmen und im Zusammenhang mit der Business Combination den Firmennamen in Semnur Pharmaceuticals, Inc. zu ändern. Die Registrierungserklärung behandelt die fortbestehende Einheit nach der Domestizierung und der Business Combination als das Unternehmen.

Item 21 führt Anhänge und Schedules auf, darunter das Agreement and Plan of Merger und dessen Änderungen, Muster von Domestikations- und Gründungsurkunden, Registrierungs- und Aktionärsvereinbarungen, mehrere wandelbare Schuldscheine, einen Semnur-Aktienoptionsplan 2024, eine Fairness-Opinion von CB Capital Partners sowie Zustimmungen von Rechtsberatern und Wirtschaftsprüfern. Bestimmte Anhänge sind gemäß Regulation S-K und Item 601(b)(10) ausgelassen oder geschwärzt; der Einreichende erklärt sich bereit, die ausgelassenen Unterlagen auf Anfrage der SEC vorzulegen.

Positive
  • Exhibits supporting the Business Combination are filed, including the Agreement and Plan of Merger and its amendments
  • Forms of corporate governance documents (certificate of incorporation, bylaws, certificate of domestication) are included to establish post-combination structure
  • Fairness opinion and professional consents (CB Capital Partners and multiple auditors/counsel) are listed, supporting disclosure completeness
Negative
  • Certain exhibits and schedules are omitted or redacted under Regulation S-K and Item 601(b)(10); the registrant will furnish them to the SEC upon request

Insights

TL;DR: Exhibits-only amendment documents corporate re-domestication, merger agreements, governance charters and compensation plans without altering prospectus disclosures.

The amendment is procedural but important for corporate structure: it files the formal exhibits supporting the planned Domestication to Delaware and the Business Combination that will result in the continuing entity named Semnur Pharmaceuticals, Inc. The inclusion of certificate forms, bylaws, registration rights, stock option plan and indemnification agreements establishes the post-combination governance framework. Omitted or redacted exhibits are noted and will be furnished to the SEC on request, which is standard practice for commercially sensitive schedules.

TL;DR: Amendment consolidates transaction documentation—merger agreements, amendments and financial/legal consents—while leaving proxy/prospectus content unchanged.

The Item 21 exhibit list confirms material transaction documentation is on file, including multiple iterations of the Agreement and Plan of Merger and subsequent amendments, sponsor and stockholder support agreements, and convertible note arrangements. The presence of a fairness opinion by CB Capital Partners and multiple consents strengthens disclosure completeness for the planned business combination. This filing is administrative in nature but necessary to support the S-4 record for the combination.

L'Emendamento n. 6 al Modulo S-4 è un deposito costituito esclusivamente da allegati che aggiorna l'Allegato 107 e non modifica le divulgazioni sostanziali della dichiarazione per voto/prospectus. Il deposito conferma che Denali Capital Acquisition Corp. intende effettuare la domesticazione dalle Isole Cayman al Delaware e, in relazione alla Business Combination, modificare la propria ragione sociale in Semnur Pharmaceuticals, Inc. La dichiarazione di registrazione considera l'entità continuata come la Società dopo la domesticazione e l'operazione di combinazione aziendale.

L'Item 21 elenca gli allegati e gli schedule, tra cui l'Agreement and Plan of Merger e le sue modifiche, modelli di certificati di domesticazione e di incorporazione, accordi di registrazione e tra azionisti, più cambiali convertibili, un piano di stock option Semnur 2024, un parere di equità redatto da CB Capital Partners e consensi da parte di consulenti legali e revisori. Alcuni allegati sono omessi o redatti ai sensi del Regulation S-K e dell'Item 601(b)(10); il soggetto registrante si impegna a fornire i materiali omessi alla SEC su richiesta.

La Enmienda n.º 6 al Formulario S-4 es una presentación solo de anexos que actualiza el Anexo 107 y no cambia las divulgaciones sustantivas de la declaración por poder/prospecto. La presentación confirma que Denali Capital Acquisition Corp. tiene la intención de efectuar un traslado de domicilio (domestication) desde las Islas Caimán a Delaware y, en relación con la Business Combination, cambiar su razón social a Semnur Pharmaceuticals, Inc. La Declaración de Registro trata a la entidad continuadora como la Sociedad tras la domesticación y la combinación de negocios.

El Ítem 21 enumera anexos y schedules que incluyen el Agreement and Plan of Merger y sus enmiendas, formularios de certificados de domesticación e incorporación, acuerdos de registro y entre accionistas, varios pagarés convertibles, un plan de opciones sobre acciones Semnur 2024, una opinión de equidad (fairness opinion) de CB Capital Partners y consentimientos de asesores legales y auditores. Ciertos anexos se omiten o redactan conforme al Regulation S-K y al Ítem 601(b)(10); el registrante acepta proporcionar los materiales omitidos a la SEC previa solicitud.

Form S-4에 대한 수정안 제6호는 전시물(Exhibits) 전용 제출로서 Exhibit 107을 갱신하며 위임장/투자설명서의 실질적 공시 내용은 변경하지 않습니다. 해당 제출서류는 Denali Capital Acquisition Corp.가 케이맨 제도에서 델라웨어로의 도미스티케이션(본점 이전)을 시행할 의향이 있으며, 사업결합(Business Combination)과 관련하여 법인명을 Semnur Pharmaceuticals, Inc.로 변경할 예정임을 확인합니다. 등록서류는 도미스티케이션 및 사업결합 이후 계속되는 실체를 회사(Company)로 간주합니다.

Item 21은 합병계약서(Agreement and Plan of Merger) 및 그 수정본, 도미스티케이션 및 설립 증명서 양식, 등록 및 주주계약, 다수의 전환가능 약속어음, 2024년 Semnur 주식매수선택권 계획, CB Capital Partners의 공정성 의견서(fairness opinion), 법률고문 및 감사인의 동의서 등 전시물과 일정들을 열거합니다. 특정 전시물은 Regulation S-K 및 Item 601(b)(10)에 따라 누락되거나 편집(부분 삭제)되어 있으며, 제출인은 요청 시 누락된 자료를 SEC에 제공하기로 합의했습니다.

L'amendement n°6 au formulaire S-4 est un dépôt composé uniquement d'annexes qui met à jour l'Annexe 107 et ne modifie pas les informations substantielles de la déclaration de procuration/prospectus. Le dépôt confirme que Denali Capital Acquisition Corp. a l'intention d'effectuer une domestication des îles Caïmans vers le Delaware et, dans le cadre de la Business Combination, de changer sa dénomination sociale en Semnur Pharmaceuticals, Inc. La déclaration d'enregistrement considère l'entité poursuivante comme la Société suite à la domestication et à la Business Combination.

L'Item 21 énumère les annexes et schedules, y compris l'Agreement and Plan of Merger et ses amendements, des formulaires de certificats de domestication et d'incorporation, des accords d'enregistrement et d'actionnaires, plusieurs billets à ordre convertibles, un plan d'options sur actions Semnur 2024, une opinion d'équité (fairness opinion) de CB Capital Partners et des consentements d'avocats et d'auditeurs. Certains annexes sont omis ou expurgés en vertu du Regulation S-K et de l'Item 601(b)(10); le déclarant accepte de fournir les documents omis à la SEC sur demande.

Nachtrag Nr. 6 zum Formular S-4 ist eine ausschließlich aus Anhängen bestehende Einreichung, die Anlage 107 aktualisiert und die substanziellen Angaben der Proxy Statement/Des Prospekts nicht ändert. Die Einreichung bestätigt, dass Denali Capital Acquisition Corp. beabsichtigt, eine Domestizierung von den Kaimaninseln nach Delaware vorzunehmen und im Zusammenhang mit der Business Combination den Firmennamen in Semnur Pharmaceuticals, Inc. zu ändern. Die Registrierungserklärung behandelt die fortbestehende Einheit nach der Domestizierung und der Business Combination als das Unternehmen.

Item 21 führt Anhänge und Schedules auf, darunter das Agreement and Plan of Merger und dessen Änderungen, Muster von Domestikations- und Gründungsurkunden, Registrierungs- und Aktionärsvereinbarungen, mehrere wandelbare Schuldscheine, einen Semnur-Aktienoptionsplan 2024, eine Fairness-Opinion von CB Capital Partners sowie Zustimmungen von Rechtsberatern und Wirtschaftsprüfern. Bestimmte Anhänge sind gemäß Regulation S-K und Item 601(b)(10) ausgelassen oder geschwärzt; der Einreichende erklärt sich bereit, die ausgelassenen Unterlagen auf Anfrage der SEC vorzulegen.

As filed with the U.S. Securities and Exchange Commission on August 11, 2025

Registration No. 333-283019

 

 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Amendment No. 6

to

Form S-4

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

 

 

Denali Capital Acquisition Corp.

(Exact name of registrant as specified in its charter)

 

 

For Co-Registrants, see “Table of Co-Registrants” on the following page.

 

Cayman Islands*   6770   92-2371901

(State or other jurisdiction of

incorporation or organization)

 

(Primary Standard Industrial

Classification Code Number)

 

(I.R.S. Employer

Identification Number)

437 Madison Avenue, 27th Floor

New York, NY 10022

(646) 978-5180

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

Lei Huang

Chief Executive Officer

437 Madison Avenue, 27th Floor

New York, NY 10022

(646) 978-5180

(Name, address, including zip code, and telephone number, including area code, of agent for service)

 

 

Copies to:

 

Michael J. Blankenship, Esq.

Winston & Strawn LLP

800 Capital Street, Suite 2400

Houston, TX 77002

 

Jeffrey T. Hartlin, Esq.

Elizabeth A. Razzano, Esq.

Paul Hastings LLP

1117 S. California Avenue

Palo Alto, CA 94304

 

 

Approximate date of commencement of proposed sale to the public: As soon as practicable after the effective date of this registration statement and the satisfaction or waiver of all other conditions under the Merger Agreement described herein.

If the securities being registered on this Form are being offered in connection with the formation of a holding company and there is compliance with General Instruction G, check the following box: ☐

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering: ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Registrant and Co-Registrant:

 

Large accelerated filer      Accelerated filer  
Non-accelerated filer      Smaller reporting company  
     Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

If applicable, place an X in the box to designate the appropriate rule provision relied upon in conducting this transaction:

 

Exchange Act Rule 13e-4(i)  (Cross-Border Issuer Tender Offer)

    

Exchange Act Rule 14d-1(d) (Cross-Border Third-Party Tender Offer)

    

 

*

Immediately prior to the consummation of the Business Combination described in the proxy statement/prospectus, Denali Capital Acquisition Corp. intends to effect a deregistration under the Cayman Islands Companies Act (2023 Revision) (As Revised) (“Companies Act”) and a domestication under Section 388 of the Delaware General Corporation Law, pursuant to which the jurisdiction of incorporation for Denali Capital Acquisition Corp. will be changed from the Cayman Islands to the State of Delaware (the “Domestication”). All securities being registered will be issued by the continuing entity following the Domestication, which will be renamed “Semnur Pharmaceuticals, Inc.” in connection with the Business Combination, as further described in the proxy statement/prospectus. Except where otherwise noted, as used herein, the “Company” refers to Denali Capital Acquisition Corp. as a Delaware corporation by way of continuation following the Domestication and the Business Combination, which in connection with the Domestication and simultaneously with the Business Combination, will change its corporate name to “Semnur Pharmaceuticals, Inc.”

The Registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.

 

 
 


TABLE OF CO-REGISTRANTS

 

Exact Name of Co-Registrant as Specified in its Charter(1)(2)

   State or Other
Jurisdiction of
Incorporation or
Organization
     Primary
Standard
Industrial
Classification
Code Number
     I.R.S. Employer
Identification Number
 

Semnur Pharmaceuticals, Inc.

     Delaware        2836        46-2968523  

(1) The Co-Registrant has the following principal executive office:

Semnur Pharmaceuticals, Inc.

960 San Antonio Road

Palo Alto, CA 94303

(2) The agent for service for the Co-Registrant is:

Jaisim Shah

Chief Executive Officer and President

Semnur Pharmaceuticals, Inc.

960 San Antonio Road

Palo Alto, CA 94303

(650) 516-4310


EXPLANATORY NOTE

This Amendment No.6 (“Amendment No. 6”) to the Registration Statement on Form S-4 (File No. 333-283019) of Denali Capital Acquisition Corp. (the “Registration Statement”) is being filed as an exhibits-only filing to amend Exhibit 107 in Part II of this Amendment No. 6. This Amendment No. 6 does not modify any provision of the proxy statement/prospectus that forms a part of the Registration Statement. Accordingly, this Amendment No. 6 consists only of the cover page, this explanatory note, Item 21 of Part II of the Registration Statement, the signature pages to the Registration Statement, and the filed exhibit.


PART II

INFORMATION NOT REQUIRED IN THE PROSPECTUS

Item 21. Exhibits and Financial Statements Schedules

 

Exhibit
Number
  

Description

1.1    Underwriting Agreement, dated as of April 6, 2022, by and among Denali Capital Acquisition Corp., US Tiger Securities, Inc. and EF Hutton, division of Benchmark Investments, LLC, as representatives of the several underwriters named therein. (incorporated by reference to Exhibit 1.1 of Denali’s Current Report on Form 8-K filed with the SEC on April 12, 2022).
2.1#‡    Agreement and Plan of Merger, dated as of March 18, 2019, by and among Scilex Holding Company, Sigma Merger Sub, Inc., Semnur Pharmaceuticals, Inc., Fortis Advisors LLC, solely as the representative of the Equityholders and, solely with respect to Section 1.8(a), Section 3.11 and Article X, Sorrento Therapeutics, Inc.
2.2‡    Amendment No. 1 to Agreement and Plan of Merger, dated as of August  7, 2019, by and among Semnur Pharmaceuticals, Inc., Scilex Holding Company, Sigma Merger Sub, Inc., Fortis Advisors, LLC, solely as the representative of the Equityholders and, solely with respect to Section  1.8(a), 3.11 and Article X of the Agreement and Plan of Merger, Sorrento Therapeutics, Inc.
2.3#‡    Agreement and Plan of Merger, dated as of August  30, 2024, by and among Denali Capital Acquisition Corp., Denali Merger Sub Inc. and Semnur Pharmaceuticals, Inc. (included as Annex  A-1 to the proxy statement/prospectus contained in this registration statement).
2.4‡    Amendment No. 1 to Agreement and Plan of Merger, dated as of April 16, 2025, by and among Denali Capital Acquisition Corp., Denali Merger Sub Inc. and Semnur Pharmaceuticals, Inc. (included as Annex A-2 to the proxy statement/prospectus contained in this registration statement).
2.5‡    Amendment No. 2 to Agreement and Plan of Merger, dated as of July  22, 2025, by and among Denali Capital Acquisition Corp., Denali Merger Sub Inc. and Semnur Pharmaceuticals, Inc. (included as Annex A-3 to the proxy statement/prospectus contained in this registration statement).
3.1    Amended and Restated Memorandum and Articles of Association of Denali Capital Acquisition Corp. (incorporated by reference to Exhibit  3.1 of Denali’s Current Report on Form 8-K filed with the SEC on April 12, 2022).
3.2    Extension Amendment, dated as of October  11, 2023, to the Amended and Restated Memorandum and Articles of Association of Denali Capital Acquisition Corp. (incorporated by reference to Exhibit 3.1 of Denali’s Current Report on Form 8-K filed with the SEC on October  11, 2023).
3.3    Extension Amendment, dated as of July  10, 2024, to the Amended and Restated Memorandum and Articles of Association of Denali Capital Acquisition Corp. (incorporated by reference to Exhibit 3.1 of Denali’s Current Report on Form 8-K filed with the SEC on July  10, 2024).
3.4    Extension Amendment, dated as of April 11, 2025, to the Amended and Restated Memorandum and Articles of Association of Denali Capital Acquisition Corp. (incorporated by reference to Exhibit 3.1 of Denali’s Current Report on Form 8-K filed with the SEC on April 15, 2025).
3.5‡    Form of Certificate of Domestication of Denali Capital Acquisition Corp., to be filed with the Secretary of State of Delaware.
3.6‡    Form of Certificate of Incorporation of Denali Capital Acquisition Corp. (included as Annex B to the proxy statement/prospectus contained in this registration statement).
3.7‡    Form of Certificate of Designations of Semnur Pharmaceuticals, Inc. (included as Annex G to the proxy statement/prospectus contained in this registration statement).

 

II-1


Exhibit
Number
  

Description

3.8‡    Form of Bylaws of Denali Capital Acquisition Corp. (included as Annex C to the proxy statement/prospectus contained in this registration statement).
4.1    Specimen Unit Certificate of Denali Capital Acquisition Corp. (incorporated by reference to Exhibit 4.1 of Denali’s Form  S-1 filed with the SEC on April 5, 2022).
4.2    Specimen Class A Ordinary Share Certificate of Denali Capital Acquisition Corp. (incorporated by reference to Exhibit  4.2 of Denali’s Form S-1 filed with the SEC on April 5, 2022).
4.3    Specimen Warrant Certificate of Denali Capital Acquisition Corp. (incorporated by reference to Exhibit 4.3 of Denali’s Form  S-1 filed with the SEC on April 5, 2022).
4.4    Warrant Agreement, dated as of April  6, 2022, between Denali Capital Acquisition Corp. and VStock Transfer, LLC, as warrant agent (incorporated by reference to Exhibit 4.1 of Denali’s Current Report on Form 8-K filed with the SEC on April 12, 2022).
5.1‡    Opinion of Winston & Strawn LLP regarding the validity of the securities.
8.1‡    Opinion of Winston & Strawn LLP regarding tax matters.
10.1    Letter Agreement, dated as of April  6, 2022, by and among Denali Capital Acquisition Corp., Denali Capital Global Investments LLC and certain security holders named therein (incorporated by reference to Exhibit  10.5 of Denali’s Current Report on Form 8-K filed with the SEC on April 12, 2022).
10.2    Investment Management Trust Agreement, dated as of April  6, 2022, by and between Denali Capital Acquisition Corp. and Wilmington Trust, National Association, as trustee (incorporated by reference to Exhibit  10.1 of Denali’s Current Report on Form 8-K filed with the SEC on April 12, 2022).
10.3    Registration and Shareholder Rights Agreement, dated as of April  6, 2022, by and among Denali Capital Acquisition Corp., Denali Capital Global Investments LLC and certain security holders named therein (incorporated by reference to Exhibit 10.2 of Denali’s Current Report on Form 8-K filed with the SEC on April 12, 2022).
10.4‡    Second Amended and Restated Convertible Promissory Note, dated as of April  2, 2024, issued by Denali Capital Acquisition Corp. to Denali Capital Global Investments LLC.
10.5    Convertible Promissory Note, dated as of July  11, 2023, issued by Denali Capital Acquisition Corp. to FutureTech Capital LLC (incorporated by reference to Exhibit 10.1 to Denali’s Current Report on Form 8-K filed with the SEC on July 13, 2023).
10.6    Convertible Promissory Note, dated as of October  11, 2023, issued by Denali Capital Acquisition Corp. to FutureTech Capital LLC (incorporated by reference to Exhibit 10.1 to Denali’s Current Report on Form 8-K filed with the SEC on October  11, 2023).
10.7    Deferred Discount Agreement, dated as of November 20, 2023, by and among Denali Capital Acquisition Corp., Denali SPAC Holdco, Inc., US Tiger Securities, Inc., EF Hutton, division of Benchmark Investments, LLC and Craig-Hallum Capital Group LLC (incorporated by reference to Exhibit 10.2 to Denali’s Current Report on Form 8-K filed with the SEC on November 20, 2023).
10.8    Convertible Promissory Note, dated as of July  10, 2024, by and between Denali Capital Acquisition Corp. and Denali Capital Global Investments LLC (incorporated by reference to Exhibit 10.1 to Denali’s Current Report on Form 8-K filed with the SEC on July 10, 2024).
10.9    Convertible Promissory Note, dated as of August  9, 2024, by and between Denali Capital Acquisition Corp. and Scilex Holding Company (incorporated by reference to Exhibit 10.1 to Denali’s Current Report on Form 8-K filed with the SEC on August  9, 2024).

 

II-2


Exhibit
Number
  

Description

10.10‡    Form  of Amended and Restated Registration Rights Agreement, by and among Semnur Pharmaceuticals, Inc., Scilex Holding Company and certain security holders (included as Annex F to the proxy statement/prospectus contained in this registration statement).
10.11*‡    Form of Indemnification Agreement of Semnur Pharmaceuticals, Inc.
10.12*‡    2024 Semnur Pharmaceuticals, Inc. Stock Option Plan.
10.13*‡    Form of Stock Option Grant Notice and Form  of Stock Option Agreement under 2024 Semnur Pharmaceuticals, Inc. Stock Option Plan.
10.14^‡    Sponsor Support Agreement, dated as of August  30, 2024, by and among Denali Capital Acquisition Corp., Semnur Pharmaceuticals, Inc. and each of the Persons set forth on Schedule I attached thereto (included as Annex D to the proxy statement/prospectus contained in this registration statement).
10.15#‡    Company Stockholder Support Agreement, dated as of August  30, 2024, by and among Scilex Holding Company, Semnur Pharmaceuticals, Inc. and Denali Capital Acquisition Corp (included as Annex E to the proxy statement/prospectus contained in this registration statement).
10.16#    Sponsor Interest Purchase Agreement, dated as of August  30, 2024, by and between Denali Capital Global Investments LLC and Scilex Holding Company (incorporated by reference to Exhibit 10.3 to Denali’s Current Report on Form 8-K filed with the SEC on September 5, 2024).
10.17#‡    Contribution and Satisfaction of Indebtedness Agreement, dated as of August  30, 2024, by and between Scilex Holding Company and Semnur Pharmaceuticals, Inc.
10.18    Stockholder Agreement, dated as of August  30, 2024, by and between Denali Capital Acquisition Corp. and Scilex Holding Company (incorporated by reference to Exhibit 10.4 to Denali’s Current Report on Form 8-K filed with the SEC on September  5, 2024).
10.19^‡    Master Services Agreement—SP-102, dated as of January  27, 2017, by and between Semnur Pharmaceuticals, Inc. and Lifecore Biomedical, LLC.
10.20‡    Amendment No. 1 to Master Services Agreement, dated as of April  26, 2018, by and between Semnur Pharmaceuticals, Inc. and Lifecore Biomedical, LLC.
10.21^‡    Amendment No. 2 to Master Services Agreement, dated as of June  6, 2023, by and between Semnur Pharmaceuticals, Inc. and Lifecore Biomedical, LLC.
10.22‡    Assignment Agreement by and among Shah Investor LP and the Company, dated as of August 6, 2013.
10.23‡    Advisory Services Agreement, dated as of August  26, 2024, by and between Wise Orient Investments Limited and Semnur Pharmaceuticals, Inc.
10.23.1‡    Amendment to Advisory Services Agreement, dated as of July 22, 2025, by and between Wise Orient Investments Limited and Semnur Pharmaceuticals, Inc.
10.24‡    Advisory Services Agreement, dated as of August 25, 2024, by and between 450W42ND MIMA, LLC and Semnur Pharmaceuticals, Inc.
10.24.1‡    Amendment to Advisory Services Agreement, dated as of July 22, 2025, by and between 450W42ND MIMA, LLC and Semnur Pharmaceuticals, Inc.
10.25#‡    Third Amended and Restated Convertible Promissory Note, dated as of January 24, 2025, issued by Denali Capital Acquisition Corp. to Denali Capital Global Investments LLC.
10.26‡    Form of Transition Services Agreement, by and between Scilex Holding Company and the Company.

 

II-3


Exhibit
Number
  

Description

10.27‡    Stock Issuance Agreement, dated as of July 22, 2025, by and between Semnur Pharmaceuticals, Inc. and the party named therein.
10.28‡    Advisory Services Agreement, dated as of June 12, 2025, by and between JW Investment Management Company Limited and Semnur Pharmaceuticals, Inc.
10.29‡    Amendment to Advisory Services Agreement, dated as of July 22, 2025, by and between JW Investment Management Company Limited and Semnur Pharmaceuticals, Inc.
16.1    Letter Regarding Change in Accountants (incorporated by reference to Exhibit 16.1 to Denali’s Current Report on Form 8-K filed with the SEC on July 17, 2024).
21.1‡    List of Subsidiaries of the Registrant.
23.1‡    Consent of Marcum Asia CPAs LLP, independent registered public accounting firm of Denali Capital Acquisition Corp.
23.2‡    Consent of Marcum LLP, former independent registered public accounting firm of Denali Capital Acquisition Corp.
23.3‡    Consent of Pipara & Co LLP, independent registered public accounting firm of Semnur.
23.4‡    Consent of Winston  & Strawn LLP (included in Exhibit 5.1 and 8.1).
24.1    Power of Attorney (included on the signature page to this proxy statement/prospectus).
99.1‡    Consent of Henry Ji to be named as a director nominee.
99.2‡    Consent of Jaisim Shah to be named as a director nominee.
99.3‡    Consent of Jay Chun to be named as a director nominee.
99.4‡    Consent of Dorman Followwill to be named as a director nominee.
99.5‡    Consent of Alexander Yue Wu to be named as a director nominee.
99.6‡    Form of Preliminary Proxy Card.
99.7‡    Fairness Opinion of CB Capital Partners, Inc. in relation to Valuation of Semnur Pharmaceuticals, Inc. by Denali Capital Acquisition Corp., dated August 30, 2024 (included as Annex H to the proxy statement/prospectus contained in this registration statement).
99.8‡    Consent of CB Capital Partners, Inc.
101.INS    Inline XBRL Instance Document.
101.SCH    Inline XBRL Taxonomy Extension Schema Document.
101.CAL    Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF    Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB    Inline XBRL Taxonomy Extension Labels Linkbase Document.
101.PRE    Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104    Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).
107    Filing Fee Table.
 

Previously filed.

*

Indicates management contract or compensatory plan or arrangement.

 

II-4


#

Certain of the exhibits and schedules to this Exhibit have been omitted in accordance with Regulation S-K Item 601. The Registrant agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request.

^

Certain identified information has been omitted pursuant to Item 601(b)(10) of Regulation S-K because such information is both (i) not material and (ii) information that the Registrant treats as private or confidential. The Registrant hereby undertakes to furnish supplemental copies of the unredacted exhibit upon request by the SEC.

 

II-5


SIGNATURES

Pursuant to the requirements of the Securities Act, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, on the 11th day of August, 2025.

 

Denali Capital Acquisition Corp.
By:  

/s/ Lei Huang

  Name: Lei Huang
  Title: Chief Executive Officer

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

 

Signature

  

Title

 

Date

/s/ Lei Huang

   Chief Executive Officer and Director
(Principal Executive Officer)
  August 11, 2025
Lei Huang

*

   Chief Financial Officer
(Principal Financial and Accounting Officer)
  August 11, 2025
You (“Patrick”) Sun

*

   Director   August 11, 2025
Huifeng Chang

*

   Director   August 11, 2025
Jim Mao

*

   Director   August 11, 2025
Kevin Vassily

 

*

Signed by Lei Huang pursuant to the power of attorney signed by each individual and previously filed with this Registration Statement on November 6, 2024

 

II-6


Pursuant to the requirements of the Securities Act, the co-registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, on the 11th day of August, 2025.

 

Semnur Pharmaceuticals, Inc.
By:  

/s/ Jaisim Shah

  Name: Jaisim Shah
  Title: Chief Executive Officer and President

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

 

Signature

  

Title

 

Date

/s/ Jaisim Shah

Jaisim Shah

   Chief Executive Officer and President
(Principal Executive Officer)
  August 11, 2025

*

Henry Ji, Ph.D.

   Treasurer, Secretary and Director   August 11, 2025

*

Stephen Ma

   Principal Financial Officer   August 11, 2025

 

*

Signed by Jaisim Shah pursuant to the power of attorney signed by each individual and previously filed with this Registration Statement on November 6, 2024

 

II-7

FAQ

What does Amendment No.6 to Denali's (DECAU) S-4/A change?

This is an exhibits-only amendment that amends Exhibit 107 and explicitly states it does not modify the proxy statement/prospectus substantive disclosures.

Will Denali (DECAU) change its jurisdiction and name after the Business Combination?

Yes. The filing states Denali intends to deregister in the Cayman Islands and domesticate to Delaware, and the continuing entity will be renamed Semnur Pharmaceuticals, Inc.

What key transaction documents are listed in Item 21?

Item 21 lists the Agreement and Plan of Merger and its amendments, sponsor and stockholder support agreements, convertible promissory notes, registration rights, and a fairness opinion by CB Capital Partners.

Are any exhibits withheld or redacted in this filing?

Yes. Certain exhibits and schedules are omitted or redacted pursuant to Regulation S-K Item 601 and Item 601(b)(10); the registrant agrees to furnish unredacted materials to the SEC upon request.

Who executed the registration statement on behalf of the parties?

The registrant signatures on the filing include Lei Huang for Denali Capital Acquisition Corp. and Jaisim Shah for Semnur Pharmaceuticals, Inc., as the authorized officers named in the document.
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