Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 370

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 370
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 periods beginning after December 15, 2025. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company is currently assessing the impact, if any, that ASU 2023-09 would have on its financial position, results of operations or cash flows. Management does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements. NOTE 3 – INITIAL PUBLIC OFFERING On April 11, 2022, the Company consummated the IPO of 8,250,000Public Units, inclusive of 750,000Public Units issued pursuant to the underwriters’ partial exercise of their over-allotment option. The Public Units were sold at a purchase price of $ 10.00per Public Unit, generating gross proceeds of $ 82,500,000. Each Public Unit consists of onePublic Share and onePublic Warrant. Each Public Warrant entitles the holder thereof to purchase onePublic Share at a price of $ 11.50per share. F-25

The warrants will become exercisable on the later of 30 days after the completion of the Company’s initial Business Combination or 12 months from the closing of the IPO and will expire five yearsafter the completion of the Company’s initial Business Combination or earlier upon redemption or liquidation (see Note 7). NOTE 4 – PRIVATE PLACEMENT Simultaneously with the closing of the IPO, the Company consummated a private placement and the Sp onsor purchased an aggregate of 510,000Private Placement Units (including 30,000Private Placement Units pursuant to the underwriters’ partial exercise of the over-allotment option) at a price of $ 10.00per Private Placement Unit, generating gross proceeds to the Company of $ 5,100,000. Each whole Private Placement Unit consists of oneClass A ordinary share (“Private Placement Shares”) and onewarrant (“Private Placement Warrants”). Each Private Placement Warrant entitles the holder to purchase oneClass A ordinary share at a price of $ 11.50per share, subject to adjustment. Certain of the proceeds from the sale of the Private Placement Units were added to the net proceeds from the IPO held in the Trust Account. If the Company does not complete a Business Combination by April 11, 2025 (or as may be extended by a shareholder vote to further extend the time to consum