---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-075736"
form_type: "8-K"
ticker: "SMNR"
cik: "0001913577"
company_name: "Semnur Pharmaceuticals, Inc."
filed_at: "2024-09-05T23:59:59+00:00"
generated_at: "2026-05-31T06:19:09.459918+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Denali SPAC enters $2.5B stock merger with Semnur Pharmaceuticals

## Summary
- Equity value of $2.5B; consideration payable in Denali (New Semnur) common shares.
- Scilex (Semnur parent) buys 500k Denali Class B shares for $2M cash and 300k Scilex shares.
- Closing targeted for Q1 2025; subject to shareholder vote, HSR clearance, Nasdaq listing.
- Sponsor and directors commit to vote for deal; Scilex signs stockholder support agreement.
- Post-closing, Denali renamed Semnur Pharma; Scilex gets board designation rights.

## SEC filing metadata
- accession: 0001213900-24-075736
- form_type: 8-K
- ticker: SMNR
- cik: 0001913577
- company_name: Semnur Pharmaceuticals, Inc.
- filed_at: 2024-09-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1913577/000121390024075736/0001213900-24-075736-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1913577/000121390024075736/ea0213186-8k425_denali.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-075736
- JSON: https://secwatch.observer/filing/0001213900-24-075736.json
- Plain text: https://secwatch.observer/filing/0001213900-24-075736.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.