Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 58

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 58
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 transactions and other material effects on the net tangible book value per share, from the initial public offering price per share paid by original investors in Denali as set forth below under the five redemption scenarios:

|                                                                                                               |     | No Redemption 
 Scenario      |       |   |     | 25%        
 Redemption 
 Scenario   |       |   |     | 50%        
 Redemption 
 Scenario   |       |   |     | 75%        
 Redemption 
 Scenario   |       |   |     | 100%       
 Redemption 
 Scenario   |       |   |
|:--------------------------------------------------------------------------------------------------------------|:----|:--------------|------:|:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|:----|:-----------|------:|:--|
| Initial public offering price per share of Denali                                                             |     | $             | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |     | $          | 10.00 |   |
| Net tangible book value per share as of March 31, 2025, as adjusted(1)                                        |     | $             | (3.19 | ) |     | $          | (3.25 | ) |     | $          | (3.30 | ) |     | $          | (3.36 | ) |     | $          | (3.42 | ) |
| Difference between initial public offering price of Denali and net tangible book value per share, as adjusted |     | $             | 13.19 |   |     | $          | 13.25 |   |     | $          | 13.30 |   |     | $          | 13.36 |   |     | $          | 13.42 |   |

| (1) | Set forth below is the calculation of net tangible book value per share as of March 31, 2025, as adjusted: |

|                                                                                |     | No Redemption 
 Scenario      |             |   |     | 25%        
 Redemption 
 Scenario   |             |   |     | 50%        
 Redemption 
 Scenario   |             |   |     | 75%        
 Redemption 
 Scenario   |             |   |     |