Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 57

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 57
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:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|
| Initial public offering price per share of Denali                                                             |     | $             | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |
| Net tangible book value per share as of March 31, 2025, as adjusted(1)                                        |     | $             | (3.19 | ) |     | $          | (3.25 | ) |     | $          | (3.30 | ) |     | $          | (3.36 | ) |     | $          | (3.42 | ) |
| Difference between initial public offering price of Denali and net tangible book value per share, as adjusted |     | $             | 13.19 |   |     | $          | 13.25 |   |     | $          | 13.30 |   |     | $          | 13.36 |   |     | $          | 13.42 |   |

| (1) | Set forth below is the calculation of net tangible book value per share as of March 31, 2025, as adjusted: |

15

|                                                                                |     | No Redemption 
 Scenario      |             |   |     | 25%        
 Redemption 
 Scenario   |             |   |     | 50%        
 Redemption 
 Scenario   |             |   |     | 75%        
 Redemption 
 Scenario   |             |   |     | 100%       
 Redemption 
 Scenario   |             |   |
|:-------------------------------------------------------------------------------|:----|:--------------|------------:|:--|:----|:-----------|------------:|:--|:----|:-----------|------------:|:--|:----|:-----------|------------:|:--|:----|:-----------|------------:|:--|
| Denali’s net tangible book value as of March 31, 2025                          |     | $             | (10,736,481 | ) |     | $          | (10,736,481 | ) |     | $