Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 387

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 387
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6, 2022. On April 11, 2022, the Company consummated the IPO of 8,250,000units (including over-allotment of 750,000units) (“Public Units”). Each Public Unit consists of oneClass A ordinary share, $ 0.0001par value per share (such shares included in the Public Units, the “Public Shares”), and oneredeemable warrant (the “Public Warrants”), each whole Public Warrant entitling the holder thereof to purchase onePublic Share at an exercise price of $ 11.50per share. The Public Units were sold at a price of $ 10.00per Public Unit, generating gross proceeds of $ 82,500,000, which is described in Note 3. Simultaneously with the closing of the IPO, the Company consummated the sale of 510,000units (including over-allotment of 30,000units) (the “Private Placement Units”) to the Sponsor at a price of $ 10.00per Private Placement Unit in a private placement generating gross proceeds of $ 5,100,000, which is described in Note 4. Transaction costs amounted to $ 5,105,315, consisting of $ 1,650,000of underwriting fees, $ 2,887,500of deferred underwriters’ fees and $ 567,815of other offering costs, and were all initially charged to shareholders’ equity. Trust Account Following the consummation of the IPO on April 11, 2022, a total of $ 84,150,000of the net proceeds from the IPO and the sale of the Private Placement Units was deposited in a trust account (the “Trust Account”). The net proceeds were invested in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less, or in any open-ended investment company that holds itself out as a money market fund and meeting certain conditions under Rule 2a-7 of the Investment Company Act, as determined by the Company. Further, on April 12, 2023, the Company issued a press release announcing that it deposited $ 825,000into the Trust Account, 50% of this amount being a loan from the Sponsor in the form of a convertible promissory note and other