Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 134

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 134
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 prior to Business Combination(2) |     | $ |   7,379 |     | Denali Class A Ordinary Shares public redemption(4) |     | $ |     535,667 |   |
| Cash balance of Denali prior to Business Combination(2) |     |   |   2,736 |     | Transaction Fees and                                
 Expenses(5)                                         |     |   |  20,169,958 |   |
| Existing Cash held in Trust                             
 Account(3)                                              |     |   | 535,667 |     | Payment of Denali Promissory                        
 Notes(6)                                            |     |   |   2,986,380 |   |
|                                                         |     |   |         |     | Remaining Cash on Balance Sheet(7)                  |     |   | (23,146,223 | ) |
| Total Sources                                           |     | $ | 545,782 |     | Total Uses                                          |     | $ |     545,782 |   |

65

| (1) | Totals may be affected by rounding. |

| (2) | As of March 31, 2025. |

| (3) | Reflects cash plus accrued interest as of April 15, 2025. |

| (4) | Reflects the redemption of Denali Class A Ordinary Shares by public stockholders. |

| (5) | Reflects the repayment of an estimated legal, audit, consulting and other transaction-related expenses. |

| (6) | Reflects the estimated repayment amount of the Denali Promissory Notes due to the Sponsor, FutureTech and Scilex of $2,986,380 in aggregate principal and interest as of June 30, 2025, assuming each monthly extension fee payment is made through June 2025. |

| (7) | Reflects the cash on balance sheet after giving effect to the repayment and uses for funding the Business Combination. New Semnur will receive intercompany funding and capital support from Scilex until New Semnur obtains sufficient financing on its own. New Semnur will also seek to raise additional funds through various potential sources, such as equity offerings, debt financings, collaborations, government contracts or other capital sources, including potential collaborations with other companies or other strategic transactions. See the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations of Semnur — Liquidity and Capital Resources — Future Liquidity Needs.” |