Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 59

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 59
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 50%        
 Redemption 
 Scenario   |       |   |     | Assuming   
 75%        
 Redemption 
 Scenario   |       |   |     | Assuming   
 Maximum    
 Additional 
 Redemption 
 Scenario   |       |   |
|:------------------------------------------------------------------------------------------------------------------------|:----|:--------------|------:|:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|
| Initial public offering price per share of Denali                                                                       |     | $             | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |
| Pro forma net tangible book value per share as of March 31, 2025, as adjusted(1)                                        |     | $             | (0.29 | ) |     | $          | (0.29 | ) |     | $          | (0.29 | ) |     | $          | (0.30 | ) |     | $          | (0.30 | ) |
| Difference between initial public offering price of Denali and pro forma net tangible book value per share, as adjusted |     | $             | 10.29 |   |     | $          | 10.29 |   |     | $          | 10.29 |   |     | $          | 10.30 |   |     | $          | 10.30 |   |

| (1) | Set forth below is the calculation of pro forma net tangible book value per share as of March 31, 2025, as adjusted: |

16

|                                                                                |     | Assuming      
 No Redemption 
 Scenario      |             |   |     | Assuming   
 25%        
 Redemption 
 Scenario   |             |   |     | Assuming   
 50%        
 Redemption 
 Scenario   |             |   |     | Assuming   
 75%        
 Redemption 
 Scenario   |             |   |     | Assuming   
 Maximum    
 Additional 
 Redemption 
 Scenario   |             |   |
|:-------------------------------------------------------------------------------|:----|:--------------|------------:|:--|:----|:-----------|------------:|:--|:----|:-----------|------------: