SMNR Form 3: Director Discloses Zero Beneficial Ownership

Rhea-AI Filing Summary

Form 3 filed for Denali Capital Acquisition Corp. (SMNR) by Followwill Dorman lists the reporting relationship as a director and confirms no securities are beneficially owned as of the event date 09/22/2025. The filing is signed by an attorney-in-fact on 09/23/2025 and includes an Exhibit 24 power of attorney. This is an initial ownership statement reporting zero direct or indirect holdings.

Positive

• Reporting person disclosed no beneficial ownership
• Exhibit 24 power of attorney provided

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Initial disclosure shows the director has no beneficial ownership, limiting related-party equity considerations.

The Form 3 identifies Followwill Dorman as a director of the issuer and explicitly states that no securities are beneficially owned. From a governance perspective, this clarifies there are currently no director-held equity positions to disclose, and the inclusion of Exhibit 24 documents delegated signing authority. The filing contains no information about future grants, options, or indirect holdings.

Securities Analyst

TL;DR: Reporting shows zero holdings; this is a routine initial filing with no immediate market impact.

As an initial Section 16 filing, the Form 3 documents status rather than transactions. The critical fact is the reporter owns no shares or derivative instruments of the issuer as of the stated event date. There are no amounts, exercise prices, or expiration dates to evaluate, so there is no quantitative impact on cap table or insider ownership metrics from this filing alone.

SEC Form 3

FORM 3

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

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Followwill Dorman

(Last) (First) (Middle)

C/O SEMNUR PHARMACEUTICALS, INC.

960 SAN ANTONIO ROAD

(Street)

PALO ALTO CA 94303

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
09/22/2025

3. Issuer Name and Ticker or Trading Symbol
Denali Capital Acquisition Corp. [ SMNR ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Exhibit 24 - Power of Attorney.

No securities are beneficially owned.

	/s/ Stephen Ma, as attorney-in-fact	09/23/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does the Form 3 filed for Denali Capital Acquisition Corp. (SMNR) state?

The Form 3 names Followwill Dorman as a director and states no securities are beneficially owned as of the event date 09/22/2025.

Who signed the Form 3 for Followwill Dorman?

The signature is dated 09/23/2025 and is executed by /s/ Stephen Ma, as attorney-in-fact.

Does the filing report any derivative or non-derivative securities owned?

No. The form explicitly states no securities are beneficially owned and includes no entries in the security tables.

What is the relationship of the reporting person to the issuer?

The reporting person is a director of Denali Capital Acquisition Corp., as indicated on the form.

Is there any evidence of a change in ownership or transactions in this filing?

No transactions are reported. The filing does not list any amounts, exercise prices, or transaction dates.