Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 686

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 686
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 to $642,500.

On December 29, 2023, Denali and the Sponsor agreed that, in addition to the Initial Principal Amount, Denali 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 Sponsor Convertible Promissory Note Maturity Date, raising the total limit up to $1,000,000. On April 2, 2024, Denali 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 27, 2025,**

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**Denali and Sponsor agreed that, in addition to the Initial Principal Amount, Denali 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. As of December 31, 2024, there was an amount of $1,423,237 outstanding under Working Capital Loans in the form of the Sponsor Convertible Promissory Note and Sponsor Extension Convertible Promissory Note issued to the Sponsor.

On July 10, 2024, Denali issued a convertible promissory note in the total principal amount of up to $180,000 the Sponsor Extension Convertible Promissory Note. The Sponsor Extension Convertible Promissory Note was issued with an initial principal balance of $15,037, with the remaining $164,963 drawable at the Company’s request and upon the consent of the Sponsor prior to the maturity of the Sponsor Extension Convertible Promissory Note. The Sponsor Extension Convertible Promissory Note matures upon the earlier of (i) the effective date of the consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company.

Amended and Restated Registration Rights Agreement

The Merger Agreement contemplates that, at or prior to Closing, Denali and Scilex will enter into the Registration Rights Agreement. The Registration Rights Agreement will govern, among other things, the registration of certain shares of New Semnur Common Stock for resale and be effective as of the Closing, and includes certain customary