Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 809

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 809
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 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 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. The Sponsor further lent an aggregate of $ 565,700to the Company against the Convertible Promissory Note during the year ended December 31, 2024. As of March 31, 2025, there was an amount of $ 1,408,200outstanding under Working Capital Loans in the form of the Convertible Promissory Note issued to Sponsor. Further, an amount of $ 91,764with interest at 4.86% on the amount borrowed from the Sponsor was recognized as accrued interest expense – related party as of March 31, 2025. On July 10, 2024, the Company issued Convertible Promissory Note 2 to the Sponsor in an aggregate principal amount of up to $ 180,000. The note was initially funded with a principal balance of $ 15,037, and an additional $ 100,000was drawn during the three months ended March 31, 2025. The remaining $ 64,963is available to be drawn at the Company’s discretion, subject to the Sponsor’s consent, at any time prior to the maturity of Convertible Promissory Note 2. NOTE 6 – COMMITMENTS AND CONTINGENCIES Registration Rights The holders of the founder shares, Private Placement Shares and Private Placement Warrants, including any of those issued upon conversion of the Working Capital Loans (and any Private Placement Shares issuable upon the exercise of the Private Placement Warrants that may be issued upon conversion of the Working Capital Loans) will be entitled to registration rights pursuant to a registration and shareholder rights agreement signed on April 6, 2022. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back