Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 803

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 803
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 Company is incorporated in the Cayman Islands and is neither a U.S. domestic corporation nor a U.S. domestic subsidiary of a publicly traded foreign corporation, it is exempt from the 1% U.S. federal excise tax on stock repurchases. The Company recognizes changes in redemption value immediately as they occur and adjusts the carrying value of redeemable ordinary shares to equal the redemption value at the end of each reporting period. Increases or decreases in the carrying amount of redeemable ordinary shares are affected by charges against additional paid-incapital or accumulated deficit if additional paid-incapital equals to zero. F-51

As of March 31, 2025 and December 31, 2024, the ordinary shares reflected in the consolidated balance sheets are reconciled in the following table:

|                                                                                                                   |     | Shares |            |   |     | Amount |             |   |
|:------------------------------------------------------------------------------------------------------------------|:----|:-------|-----------:|:--|:----|:-------|------------:|:--|
| Ordinary shares subject to possible redemption – December 31, 2023                                                |     |        |  4,537,829 |   |     | $      |  50,477,963 |   |
| Redemption of shares ($11.47per share)                                                                            |     |        | (3,785,992 | ) |     |        | (43,425,328 | ) |
| Subsequent measurement of Class A ordinary shares subject to possible redemption (income earned on Trust Account) |     |        |          — |   |     |        |   1,578,042 |   |
| Subsequent measurement of Class A ordinary shares subject to possible redemption (extension deposit)              |     |        |          — |   |     |        |     390,328 |   |
| Ordinary shares subject to possible redemption – December 31, 2024                                                |     |        |    751,837 |   |     |        |   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