Scilex Holding Co - 22 Sep 2025 Form 3 Insider Report for Denali Capital Acquisition Corp. (DNQAF)

Role
10%+ Owner
Signature
/s/ Henry Ji, Scilex Holding Company, Chief Executive Officer and President
Issuer symbol
DNQAF
Transactions as of
22 Sep 2025
Net transactions value
$0
Form type
3
Filing time
23 Sep 2025, 19:48:17 UTC
Next filing
25 Sep 2025

Reporting Owners (2)

Name Relationship Address Signature Signature date CIK
Scilex Holding Co 10%+ Owner 960 SAN ANTONIO RD, PALO ALTO /s/ Henry Ji, Scilex Holding Company, Chief Executive Officer and President 23 Sep 2025 0001820190
Scilex, Inc. 10%+ Owner 960 SAN ANTONIO RD, PALO ALTO /s/ Henry Ji, Scilex, Inc., Chief Executive Officer and President 23 Sep 2025 0002084647

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding SMNR Common Stock 193,750,000 22 Sep 2025 By Scilex, Inc. F1, F2
holding SMNR Common Stock 6,250,000 22 Sep 2025 By Scilex Bio, Inc. F3
holding SMNR Common Stock 1,054,849 22 Sep 2025 Direct F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents shares of the Common Stock of the Issuer (f/k/a Denali Capital Acquisition Corp. ("Denali")) received pursuant to a business combination (the "Business Combination") which was effectuated in accordance with the terms of the Agreement and Plan of Merger, dated as of August 30, 2024 (as amended on April 16, 2025 and July 22, 2025), by and among the Issuer, Denali Merger Sub, Inc., a wholly owned subsidiary of the Issuer, and the company formerly known as Semnur Pharmaceuticals, Inc. ("Old Semnur"). Upon consummation of the Business Combination, the reporting entities' shares of the common stock of Old Semnur were exchanged for the shares of Common Stock of the Issuer reported in this row, based on an exchange ratio of 1.25 to 1.
F2 Scilex, Inc. is the direct owner of the 193,750,000 shares of the Issuer's Common Stock set forth in this row. Scilex, Inc. is a subsidiary of Scilex Holding Company.
F3 Scilex Bio, Inc. is the direct owner of 6,250,000 shares set forth in this row. Scilex Bio, Inc. is a majority-owned subsidiary of Scilex Holding Company.
F4 Comprised of: (i) 542,361 shares of Common Stock issued pursuant to the Business Combination upon the exchange of 5,423,606 shares of Series A Preferred Stock of Old Semnur (each share of Series A Preferred Stock of Old Semnur was exchanged for one share of Series A Preferred Stock of the Issuer and 1/10th of a share of Common Stock of the Issuer), (ii) 500,000 shares of Common Stock purchased by Scilex Holding Company prior to the Business Combination, and (iii) 12,488 shares of Common Stock issued upon conversion of the Convertible Promissory Note previously issued by Denali Capital Acquisition Corp. to Scilex Holding Company, which was converted upon consummation of the Business Combination.