Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 417

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 417
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 provide flexibility for future issuances of shares of New Semnur Common Stock if determined by the New Semnur Board to be in the best interests of New Semnur after the consummation of the Business Combination without incurring the risk, delay and potential expense incident to obtaining stockholder approval to increase the authorized share capital. In connection with the Business Combination, an aggregate of 277,087,600 shares of New Semnur Common Stock are needed to complete the Business Combination, comprised of:

| • |     | 200,000,000 shares of New Semnur Common Stock to be issued as Merger Consideration and beneficially held by Scilex (as the controlling stockholder of Semnur); |

| • |     | up to a maximum of 600,000 shares of New Semnur Common Stock to be issued to Scilex as the sole holder of Semnur Series A Preferred Stock as Preferred Consideration; |

| • |     | up to a maximum of 6,000,000 shares of New Semnur Series A Preferred stock to be issued to Scilex as the sole holder of Semnur Series A Preferred Stock as Preferred Consideration; |

| • |     | assuming approval of the Option Exchange Proposal, up to a maximum of 50,000,000 shares of New Semnur Common Stock that will be issuable upon exercise of options to purchase shares of New Semnur Common Stock; |

| • |     | 2,799,715 shares of New Semnur Common Stock to be issued in exchange for the same number of Denali Ordinary Shares; |

| • |     | 524,622 shares of New Semnur Common Stock to be issued upon the automatic separation of Units into their component parts; |

| • |     | 323,161 shares of New Semnur Common Stock, to be issued upon conversion (if converted) of the Denali Convertible Promissory Notes (taking into account accrued interest through September 30, 2025), of which Scilex will hold 18,000 shares; |

| • |     | 86,625 shares of New Semnur Common Stock expected to be issued to the Denali Underwriters pursuant to a deferred discount agreement to be entered into; |

| • |     | the 24,400,000 shares of Semnur Common Stock issued pursuant to the Consulting Services Agreements are converted into an aggregate of 30,500,000 shares