Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 262

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 262
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 interests include, among other things, the interests listed below:

Prior to Denali’s initial public offering, the Sponsor purchased 2,156,250 founder shares for an aggregate purchase price of $25,000, or approximately $0.012 per share, and Sponsor later (i) forfeited 93,750 founder shares and (ii) transferred 130,000 founder shares to Denali’s independent directors and Chief Financial Officer, resulting in an aggregate 2,062,500 Denali Class B Ordinary Shares issued and outstanding, of which 1,932,500 were held by the Sponsor and 130,000 were held by Denali’s directors and executive officers. On August 30, 2024, Scilex paid the Cash Consideration under the Sponsor Interest Purchase Agreement, and on September 4, 2024, the Sponsor transferred 500,000 Denali Class B Ordinary Shares to Scilex. As a result of the transaction under the Sponsor Interest Purchase Agreement, the Sponsor holds 1,432,500 Denali Class B Ordinary Shares, Denali’s directors and executive officers hold 130,000 Denali Class B Ordinary Shares and Scilex holds 500,000 Denali Class B Ordinary Shares. If Denali does not consummate a business combination by the Extended Date, it would cease all operations except for the purpose of winding up, redeeming all of the issued and outstanding public shares for cash and, subject to the approval of its remaining shareholders and the Denali Board, liquidating and dissolving, subject in each case to its obligations under the Cayman Islands law to provide for claims of creditors and the requirements of other applicable law. In such event, the 2,062,500 Denali Class B Ordinary Shares owned by the Sponsor, Denali’s directors and executive officers and Scilex would be worthless because following the redemption of the public shares, Denali would likely have few, if any, net assets and because the Sponsor, Denali’s directors and officers and Scilex have agreed to waive their respective rights to liquidating distributions from the Trust Account in respect of any Denali Class A Ordinary Shares and Denali Class B Ordinary Shares held by it or them, as applicable, if Denali fails to complete a business combination within the required period. Additionally, in such event, the 510,000 Denali Private Placement Warrants purchased by the Sponsor simultaneously with the consummation of the IPO for an aggregate purchase price of $5,100,000 will also