Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 563

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 563
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6 million is reflected as a decrease in cash and cash equivalents as a result of redemptions by Denali public shareholders in conjunction with the Third Extension Meeting on April 11, 2025. |

| (D) | Reflects the repayment of Denali’s accounts payable and accrued offering costs and expenses and the amount of negative cash reclassified to accounts payable as described in (M) below. |

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| (E) | Reflects the repayment of the convertible promissory notes to Scilex, FutureTech and the Sponsor, and related accrued interest (as and if applicable). The adjustment assumes that all of the Denali Promissory Notes will be converted into shares of New Semnur Common Stock under all redemption scenarios. |

| (In thousands)                              |     |   |       |
|:--------------------------------------------|:----|:--|------:|
| Convertible Promissory Note — Related Party |     | $ | 1,423 |
| Convertible Promissory Note — Others        |     |   | 1,350 |
| Accrued interest expense — Related Party    |     |   |    75 |
| Accrued interest expense — Others           |     |   |    59 |
| Total as of December 31, 2024               |     | $ | 2,907 |

| (F) | Reflects the conversion of the Related Party Loan due to Scilex to equity. |

| (G) | Reflects the repayment of deferred underwriting and legal fees, which is being settled in a combination of cash and shares. |

| (In thousands)                                         |     |   |       |
|:-------------------------------------------------------|:----|:--|------:|
| Cash repayment of deferred underwriting and legal fees |     | $ | 2,022 |
| Share settlement of the deferred underwriting fees     |     |   |   866 |
| Total                                                  |     | $ | 2,888 |

| (H) | Reflects the remaining carrying value of $9.0 million reflected as the reclassification of Denali Class A Ordinary Shares from temporary equity to permanent equity. |

| (I) | Reflects conversion and recapitalization of Semnur Common Stock and Semnur Preferred Stock into New Semnur Common Stock and New Semnur Class A Preferred Stock pursuant to the Merger Agreement. |

| (J) | Represents pro forma adjustments to additional paid-in capital balance to reflect