Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 455

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 455
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 thousands):

|                                                                                                 |     | Year Ended December 31, |   2024 |     |   |  2023 |
|:------------------------------------------------------------------------------------------------|:----|:------------------------|-------:|:----|:--|------:|
| Loans from Scilex Holding Company — stock-based compensation                                    |     | $                       |    660 |     | $ |   840 |
| Loans from Scilex Holding Company — expenses paid by Scilex Holding Company on behalf of Semnur |     |                         | 10,872 |     |   | 1,661 |

|                                         |     | Year Ended December 31, |   2024 |     |   |  2023 |
|:----------------------------------------|:----|:------------------------|-------:|:----|:--|------:|
| Total loans from Scilex Holding Company |     | $                       | 11,532 |     | $ | 2,501 |

<div align='center'>F-83</div>

Debt Exchange Agreement On August 30, 2024, the Company and Scilex entered into the Debt Exchange Agreement with respect to certain amounts owed to Scilex by the Company, including accrued and unpaid interest thereon, if any, which amount may be updated pursuant to the terms thereof, for certain loans and other amounts provided by Scilex to the Company prior to the closing of the Business Combination (the “Outstanding Indebtedness”). The Outstanding Indebtedness as of December 31, 2024 and 2023 was approximately $ 49,433,467and $ 37,900,873, respectively, but will not exceed $ 60,000,000as of immediately prior to the closing of the Business Combination. Pursuant to the Debt Exchange Agreement, effective as of immediately prior to, and contingent upon, the closing of the Business Combination, Scilex agreed to contribute the Outstanding Indebtedness (as set forth in the Debt Exchange Agreement) to the Company in exchange for the issuance by the Company to Scilex of that number of shares of Series A Preferred Stock, par value $0.0001 per share, of the Company (subject to adjustment for recapitalizations, stock splits, stock dividends and similar transactions) (the “Series A Preferred Shares” and such transaction, the “Contribution”) that is equal to (a) the sum of the aggregate amount of the Outstanding Indebtedness