Company: SMNR
Filing Date: 2025-09-26
Form Type: 8-K
Source: 0001193125-25-220455
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Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-09-26
Form: 8-K
Item: Item 2.03
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Item 2.03.      Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement.  

The information relating to the D. Boral Promissory Note, the US Tiger Promissory Note, the Sponsor Note and the FutureTech Note provided in Item 1.01 is hereby incorporated by reference.

  Item 3.02.      Unregistered Sales of Equity Securities.  

Satisfaction and Discharge of Indebtedness Agreements and Related Promissory Notes with the Denali Underwriters

The information provided in Item 1.01 regarding the D. Boral Agreement, D. Boral Promissory Note, US Tiger Agreement and US Tiger Promissory Note is hereby incorporated by reference. The D. Boral Shares and US Tiger Shares were issued by the Company to D. Boral and US Tiger, respectively, in reliance upon the provisions of Section 4(a)(2) of the Securities Act or Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act.

Conversion of Scilex Convertible Promissory Note

On September 22, 2025, SHC elected to convert the outstanding amount payable of $124,883.82 under the convertible promissory note dated August 9, 2025 by and between Denali and SHC (the “ Scilex Convertible Promissory Note”) into 12,488 shares of Denali Ordinary Shares at the conversion price of $10 per share. These shares converted automatically, on a one-for-onebasis, into 12,488 shares of New Semnur Common Stock (the “ Scilex Note Shares”) in connection with the Closing of the Business Combination. A description of the Scilex Convertible Promissory Note is included in the Proxy Statement/Prospectus in the section titled “ Material Financing Transactions in connection with the Business Combination - The Scilex Note” which is incorporated herein by reference.

The Scilex Note Shares were issued by the Company to SHC in reliance upon the provisions of Section 4(a)(2) of the Securities Act or Rule 506(b) of Regulation D promulgated by the SEC under the Securities Act.

Securities Purchase Agreement with Biconomy

The information provided in Item 1.01 regarding the Semnur/Biconomy SPA is hereby incorporated by reference. The Biconomy Shares will be issued by the Company to Biconomy in reliance upon the provisions of Section