Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 774

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 774
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 statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s chief operating decision maker, or group, in deciding how to allocate resources and assess performance. The Company has adopted the guidance in ASU 2023-07,Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, in the accompanying financial statements using the retrospective method of adoption. F-31

The Company’s chief operating decision maker has been identified as the Chief Executive Officer (“CODM”), who reviews the operating results for the Company as a whole to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that the Company only has oneoperating and reportable segment.

When evaluating the Company’s performance and making key decisions regarding resource allocation the CODM reviews several key metrics, which include the following:

|                                                                   |     | For the YearEndedDecember 31,2024 |            |   |     | For the YearEndedDecember 31,2023 |            |   |
|:------------------------------------------------------------------|:----|:----------------------------------|-----------:|:--|:----|:----------------------------------|-----------:|:--|
| Professional services fee in connection with Business Combination |     | $                                 | (1,163,962 | ) |     | $                                 | (2,268,236 | ) |
| Other formation and operating costs                               |     |                                   |   (485,144 | ) |     |                                   |   (905,590 | ) |
| Total formation and operating costs                               |     |                                   | (1,649,106 | ) |     |                                   | (3,173,826 | ) |
| Interest expense                                                  |     |                                   |    (96,242 | ) |     |                                   |    (36,909 | ) |
| Interest earned on investment held in Trust Account               |     |                                   |  1,578,042 |   |     |                                   |  3,843,271 |   |
| Net (loss) income                                                 |     | $                                 |   (167,306 | ) |     | $                                 |    632,536 |   |

The key measures of segment profit or loss reviewed by our CODM are interest earned on investment in Trust Account and formation and operating expenses. The CODM reviews interest earned on investment in Trust Account to measure and monitor shareholder value and determine the