SEC approves registration for Denali-Semnur business combination

The Securities and Exchange Commission has declared effective the registration statement for the proposed business combination between Denali Capital Acquisition Corp. (OTCB: DNQAF) and Semnur Pharmaceuticals, Inc., a majority-owned subsidiary of Scilex Holding Company (NASDAQ: SCLX).

Denali shareholders will vote on the business combination at an extraordinary general meeting scheduled for September 3, 2025, at 9:00 a.m. Eastern Time. The meeting will be held at US Tiger Securities offices in New York. Shareholders of record as of August 12, 2025, are entitled to vote.

The combined company will be renamed "Semnur Pharmaceuticals, Inc." following the transaction's completion. The business combination is expected to close after shareholder approval and satisfaction of other closing conditions.

The combined company has submitted an application to list its common stock and warrants on The Nasdaq Stock Market, though approval has not been obtained. If listing approval is not secured, the securities will continue trading on OTC Markets.

Semnur is developing SP-102, a gel formulation administered epidurally for patients with chronic radicular pain and sciatica. The company completed a Phase 3 study for the treatment and received Fast Track status from the FDA in 2017.

Denali is a special purpose acquisition company formed to complete a business combination with one or more entities. The transaction details are outlined in the registration statement filed with the SEC.

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