Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 777

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 777
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 9,021,005 |   |
| Subsequent measurement of Class A ordinary shares subject to possible redemption (income 
 earned on Trust Account)                                                                 |     |        |            |   |     |        |      78,971 |   |
| Subsequent measurement of Class A ordinary shares subject to possible redemption         
 (extension deposit)                                                                      |     |        |          — |   |     |        |      45,191 |   |
| Ordinary shares subject to possible redemption – March 31, 2025                          |     |        |    751,837 |   |     | $      |   9,145,167 |   |

Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account. Net Income Per Ordinary Share The Company complies with the accounting and disclosure requirements of FASB ASC 260, “Earnings Per Share.” Net loss per redeemable and non-redeemableordinary share is computed by dividing net loss by the weighted average number of ordinary shares outstanding between the redeemable and non-redeemableshares during the period, excluding ordinary shares subject to forfeiture. Weighted average shares were reduced for the effect of an aggregate of 93,750 founder shares that were forfeited during the three months ended June 30, 2022, due to the underwriters’ partial exercise of their over-allotment option. In order to determine the net income attributable to both the redeemable shares and non-redeemableshares, the Company first considered the undistributed income allocable to both the redeemable shares and non-redeemableshares and the undistributed income is calculated using the total net loss less dividends paid. The Company then allocated the undistributed income based on the weighted average number of shares outstanding between the redeemable and non-redeemableshares. Subsequent measurement adjustments recorded pursuant to ASC 480-10-S99-3Arelated to redeemable shares are treated in the same manner as dividends on redeemable shares. Class A ordinary shares are redeemable at a price determined by the Trust Account held by the Company. This redemption price is not considered a redemption at fair value. Accordingly, the adjustments to the carrying amount are reflected in the Earnings Per Share (“EPS”) using the two-classmethod. The Company has elected to apply