Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 614

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 614
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 New Semnur Common Stock are issued immediately following the closing of the Business Combination pursuant to the Consulting Services Agreements; and (e) that the Denali Promissory Notes are converted into 316,638 shares of New Semnur Common Stock in connection with Closing. |

| • |     | Under the “maximum redemptions” scenario, the expected beneficial ownership of New Semnur Common Stock and New Semnur Series A Preferred Stock immediately following closing of the Business Combination has been determined based on the following assumptions (i) that all 43,739 public shares (consisting of (a) 29,117 Denali Class A Ordinary Shares and (b) 14,622 Denali Class A Ordinary Shares underlying the Public Units) are redeemed; (ii) that none of the investors set forth in the table below has purchased or purchases shares of Denali Ordinary Shares (pre-Business Combination) or New Semnur Common Stock or New Semnur Series A Preferred Stock (post-Business Combination); (iii) that a maximum of 6,000,000 shares of New Semnur Series A Preferred Stock are issued in the Business Combination as Preferred Consideration; (iv) that there will be an aggregate of 211,565,625. |

| • |     | Shares of New Semnur Common Stock issued and outstanding, which number of shares of New Semnur Common Stock is comprised of (a) the 2,572,500 Denali Ordinary Shares currently outstanding are exchanged for a corresponding number of shares of New Semnur Common Stock in connection with the Business Combination; (b) an aggregate of 200,600,000 shares of New Semnur Common Stock that are issued in the Business Combination (such number of shares being based upon (1) 200,000,000 shares of New Semnur Common Stock issued as Merger Consideration and (2) a maximum of 600,000 shares of New Semnur Common Stock issued in connection with the exchange of a maximum of 6,000,000 shares of Semnur Preferred Stock as Preferred Consideration; (c) 86,625 shares of New Semnur Common Stock issued to the Denali Underwriters pursuant to the Deferred Discount Agreement at Closing; (d) 8,000,000 shares of New Semnur Common Stock are issued immediately following the closing of the Business Combination pursuant to the Consulting Services Agreements; and (e) that the Denali Promissory