Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 53

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 53
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| • |     | a maximum of 6,000,000 shares of Semnur Preferred Stock is outstanding as of immediately prior to the Effective Time and a maximum of 600,000 shares of New Semnur Common Stock is being issued in respect thereof in connection with the Business Combination; |

| • |     | all 510,000 Denali Private Placement Units are redeemed for a corresponding number of shares of New Semnur Common Stock and New Semnur Warrants that are exercisable for a corresponding number of shares of New Semnur Common Stock; |

| • |     | exercise of all (i) 8,235,378 Public Warrants currently outstanding, (ii) 14,622 Public Warrants issued upon redemption of the Public Units, and (iii) 510,000 Denali Private Placement Warrants issued upon redemption of the Denali Private Placement Units; |

| • |     | approval of the Option Exchange Proposal and that all Semnur stock options are exchanged for options to acquire 50,000,000 shares of New Semnur Common Stock; |

| • |     | 8,000,000 shares of New Semnur Common Stock are issued pursuant to the to be issued pursuant to the Consulting Services Agreements immediately following the completion of the Business Combination; |

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| • |     | all Denali Promissory Notes are converted into an aggregate of 316,638 shares of New Semnur Common Stock, based on principal and accrued interest thereunder through June 30, 2025, of which 18,000 will be issued to Scilex; |

| • |     | underwriting fees are paid in the form of 86,625 shares of common stock of the public company surviving a business combination; and |

| • |     | no issuance of additional securities by Denali prior to Closing. |

For purposes of the table below: No Redemption Scenario: This scenario assumes that no public shareholders exercise redemption rights with respect to their Denali Class A Ordinary Shares upon consummation of the Business Combination. Interim Redemption Scenarios (25%, 50% and 75%): These scenarios assume that public shareholders holding approximately 10,935, 21,870, and 32,805 Denali Class A Ordinary Shares, respectively, will exercise their redemption rights upon consummation of the Business Combination. Maximum Redemption Scenario: This scenario assumes that public shareholders holding all 29,117 Denali Class A Ordinary Shares issued and outstanding