Form 3 Filed: Denali Capital Director Chun Jay Reports Zero Beneficial Ownership

Rhea-AI Filing Summary

Denali Capital Acquisition Corp. reporting person Chun Jay filed an Initial Statement of Beneficial Ownership on behalf of SEMNUR PHARMACEUTICALS, INC. The filing shows the reporting person is a director of the issuer and the Form 3 was filed in connection with an event dated 09/22/2025. The Form discloses that no securities are beneficially owned by the reporting person at the time of filing. The document includes an Exhibit 24 power of attorney and is signed by an attorney-in-fact on 09/23/2025.

Positive

• Director status disclosed (Chun Jay identified as a director), which provides transparency to investors
• Timely filing with an executed power of attorney, indicating compliance with reporting procedures

Negative

• No securities beneficially owned by the reporting person at filing, so no insider alignment with shareholders is evident

Insights

Corporate Governance Expert

TL;DR: New director filing discloses no current ownership; routine disclosure but relevant for insider monitoring.

The Form 3 notifies the market that Chun Jay is a director of Denali Capital Acquisition Corp. and that, as of the event date, the director does not beneficially own any equity securities. This is a standard Section 16 initial disclosure where the absence of holdings is material to record-keeping and future reporting obligations because subsequent acquisitions or disposals will trigger additional filings. The inclusion of Exhibit 24 indicates an executed power of attorney, which is common practice to facilitate timely filings.

Securities Analyst

TL;DR: The filing is informational and neutral; no immediate impact on share count or control.

The submission confirms a director appointment with no associated equity position disclosed. From a market-impact perspective, a Form 3 showing zero beneficial ownership is neutral: it neither dilutes nor consolidates existing ownership and does not change insider ownership metrics. Investors tracking insider accumulation should note future Form 4s if purchases occur.

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^*

Chun Jay

(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 Chun Jay disclose in the Form 3 for DNQWF?

The Form 3 discloses that Chun Jay is a director and that no securities are beneficially owned as of the event date 09/22/2025.

Does the Form 3 indicate any insider purchases for DNQWF?

No. The filing explicitly states no securities are beneficially owned, so there are no purchases reported on this Form 3.

When was the Form 3 signed and who signed it?

The Form 3 was signed by /s/ Stephen Ma, as attorney-in-fact on 09/23/2025.

What is Exhibit 24 referenced in the filing?

Exhibit 24 is a Power of Attorney, which authorizes the attorney-in-fact to sign and file the Form on behalf of the reporting person.

Will this Form 3 trigger future filings for DNQWF?

Future filings (Form 4 or Form 5) will be required if the reporting person acquires or disposes of securities; the Form 3 only records initial status.