Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 357

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 357
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 effect on the date thereof and is payable in arrears on the earlier of (i) the closing of Denali’s initial business combination and (ii) the date of the liquidation of the Company (the “Maturity Date”). Interest will be calculated on the basis of a 365-day year and the actual number of days elapsed, to the extent permitted by applicable law. The Convertible Promissory Note 1 was issued with an initial principal balance of $ 412,500(the “Initial Principal Amount”). The Sponsor has further lent loans in the aggregate amount of $ 430,000on July 18, 2023, October 12, 2023 and December 29, 2023. The Sponsor further lent an aggregate of $ 565,700to the Company for the Convertible Promissory Note 1 during the year ended December 31, 2024. On April 2, 2024 the Company and Sponsor agreed that, in addition to the Initial Principal Amount, the Company may request an additional aggregate amount of up to $ 186,800, which may be drawn down in one or more tranches at any time prior to the Maturity Date, raising the total limit up to $ 1,200,000. On January 24, 2025, the Company and Sponsor agreed that, in addition to the Initial Principal Amount, the Company may request an F-17

additional aggregate amount of up to $ 591,800, which may be drawn down in one or more tranches at any time prior to the Maturity Date, raising the total limit up to $ 2,000,000. On July 10, 2024, the Company issued Convertible Promissory Note 2 in the total principal amount of up to $ 180,000to Sponsor. The Convertible Promissory Note 2 was issued with an initial principal balance of $ 15,037, with the remaining $ 164,963drawable at the Company’s request and upon the consent of the Sponsor prior to the maturity of the Convertible Promissory Note 2. As of December 31, 2024, there was an amount of $ 1,408,200and $ 15,037outstanding under Working Capital Loans in the form of the Convertible Promissory Note 1 and 2, respectively, issued to the Sponsor. As of December 31, 2024, the outstanding amount under the Working Capital Loans in the form