Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 810

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 810
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issory Note was issued with an initial principal balance of $ 412,500. The Sponsor has further lent loans in the aggregate amount of $ 430,000on July 18, 2023, October 12, 2023 and December 29, 2023. On December 29, 2023 the Company and Sponsor agreed that, in addition to the Initial Principal Amount, the Company may request an additional aggregate amount of up to $ 157,500, which may be drawn down in one or more tranches at any time prior to the Maturity Date, raising the total limit up to $ 1,000,000. On April 2, 2024, the Company and Sponsor agreed that, in addition to the Initial Principal Amount, the Company may request an additional aggregate amount of up to $ 186,800, which may be drawn down in one or more tranches at any time prior to the Maturity Date raising the total limit up to $ 1,200,000. On January 24, 2025, the Company and Sponsor agreed that, in addition to the Initial Principal Amount, the Company may request an additional aggregate amount of up to $ 591,800, which may be drawn down in one or more tranches at any time prior to the Maturity Date, raising the total limit up to $ 2,000,000. The Sponsor further lent an aggregate of $ 565,700to the Company against the Convertible Promissory Note during the year ended December 31, 2024. As of March 31, 2025, there was an amount of $ 1,408,200outstanding under Working Capital Loans in the form of the Convertible Promissory Note issued to Sponsor. Further, an amount of $ 91,764with interest at 4.86% on the amount borrowed from the Sponsor was recognized as accrued interest expense – related party as of March 31, 2025. On July 10, 2024, the Company issued Convertible Promissory Note 2 to the Sponsor in an aggregate principal amount of up to $ 180,000. The note was initially funded with a principal balance of $ 15,037, and an additional $ 100,000was drawn during the three months ended March 31, 2025. The remaining $ 64,963is available to be drawn at the Company’s discretion, subject to the Sponsor’s consent, at any time prior to