Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 312

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 312
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 Denali, Semnur and their respective advisors.

Denali was incorporated on January 5, 2022 as an exempted company with limited liability for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities. In February 2022, we issued an aggregate of 2,156,250 founder shares to the Sponsor in exchange for a payment of $25,000 from the Sponsor for deferred offering costs. In March 2022, the Sponsor transferred 20,000 founder shares to the Chief Financial Officer of the Company and 110,000 founder shares to certain members of the Company’s board of directors. On May 23, 2022, 93,750 founder shares were forfeited by the Sponsor as the underwriters did not exercise their over-allotment option on the remaining 375,000 Public Units, resulting in the Sponsor holding an aggregate of 1,932,500 Denali Class B Ordinary Shares of which 500,000 were subsequently sold to Scilex pursuant to the Sponsor Interest Purchase Agreement.

The registration statement for our IPO was declared effective on April 6, 2022 and on April 11, 2022, we consummated the IPO of 8,250,000 Public Units at $10.00 per Public Unit, including 750,000 Public Units subject to the underwriters’ over–allotment option. Each Public Unit consists of one Denali Class A Ordinary Share and one Public Warrant. Each whole Public Warrant entitles the holder to purchase one Denali Class A Ordinary Share at a price of $11.50 per share, subject to adjustment.**

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US Tiger and EF Hutton acted as joint book–running managers for the IPO, and their underwriting fees consisted of $1,650,000 paid at the closing of the IPO and $2,887,500 in deferred underwriting fees to be paid at the closing of the Business Combination.

Simultaneously with the closing of the IPO, Denali consummated the private placement of 510,000 Denali Private Placement Units at a price of $10.00 per Denali Private Placement Unit, generating gross proceeds of $5,100,000. The Denali Private Placement Units were purchased by the Sponsor. Each whole Denali Private Placement Unit consists of one Denali Class A Ordinary Share and one Denali Private