Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 168

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 168
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ur Series A Preferred Stock and 20,638 shares of New Semnur Common Stock upon Closing. The corresponding impact of the additional contributions is reflected as part of the recapitalization of Semnur. |

| (2) | Represents the net cash outflow in connection with the additional drawdown and repayment of the Denali convertible promissory notes at Closing. |

| (B) | Reflects the reclassification of $8.3 million of deferred transaction costs to additional paid-in capital. |

| (C) | Reflects the reclassification of Investments Held in the Trust Account. |

| (D) | Reflects the repayment of Denali’s accounts payable and accrued offering costs and expenses subsequent to the balance sheet date. |

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| (E) | Reflects certain transaction accounting adjustments to pro forma combined current liabilities as follows: |

(E1) Reflects the impact of transaction costs incurred subsequent to the balance sheet date to accrued expenses and other current liabilities.

| (in thousands)                                                                                                    |     |   |       |
|:------------------------------------------------------------------------------------------------------------------|:----|:--|------:|
| Transaction expenses incurred by Denali and Legacy Semnur subsequent to the balance sheet date                    |     | $ | 2,717 |
| Additional accrued interest incurred as of Closing due to Denali promissory note issued to FutureTech Capital LLC |     |   |     7 |
| Total                                                                                                             |     | $ | 2,724 |

(E2) Reflects the impact of additional accrued interest from the Denali promissory note issued to Sponsor at Closing to accrued expenses – related party. (E3) Reflects the reclassification of deferred underwriting commissions and partial settlement of Denali promissory notes at Closing as illustrated in the table below:

| (in thousands)                                                                                              |     |   |       |   |
|:------------------------------------------------------------------------------------------------------------|:----|:--|------:|:--|
| Reclass of deferred underwriting commissions and legal fees to Note Payable, net of payment made at Closing |     | $ | 2,650 |   |
| Additional drawdown of Denali promissory note issued to Scilex subsequent to the balance sheet date         |     |   |     2 |   |
| Additional advances owed to Scilex at Closing                                                               |     |   |    70 |   |
| Reflects partial share settlement of Denali promissory note issued to Scilex at Closing                     |