Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 122

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 122
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ali Private Placement Units, and (d) 50,000,000 options to acquire shares of New Semnur Common Stock that may be issued to Semnur option holders in connection with the Business Combination (assuming approval of the Option Exchange Proposal). For additional information regarding the dilutive effect of the foregoing securities referenced in this footnote, see the section titled “Questions and Answers About the Business Combination and the Meeting — Questions and Answers About the Business Combination — What are the possible sources and the extent of dilution that public shareholders who elect not to redeem their shares will experience in connection with the Business Combination?” |

Material U.S. Federal Income Tax Consequences For a discussion summarizing the material U.S. federal income tax consequences of the Domestication and the exercise of redemption rights, please see “ Material U.S. Federal Income Tax Consequences.” Sources and Uses of Funds for the Business Combination The following table summarizes the sources and uses for funding the transaction contemplated by the Merger Agreement. Where actual amounts are not known or knowable, the figures below represent Denali’s good faith estimate of such amounts assuming a Closing as of June 30, 2025 (all numbers in millions). No Additional Redemptions Scenario The following table summarizes the sources and uses for funding the Business Combination assuming no redemptions of any public shares and approximately $9.1 million of cash remaining in the Trust Account:

| Sources of Funds(1)                                     |     |   |         |     | Uses of Funds(1)             |     |   |             |   |
|:--------------------------------------------------------|:----|:--|--------:|:----|:-----------------------------|:----|:--|------------:|:--|
| Cash balance of Semnur prior to Business Combination(2) |     | $ |   7,379 |     | Transaction Fees and         
 Expenses(4)                  |     | $ |  20,169,958 |   |
| Cash balance of Denali prior to Business                
 Combination(2)                                          |     |   |   2,736 |     | Payment of Denali Promissory 
 Notes(5)                     |     |   |   2,986,380 |   |
| Existing Cash held in Trust                             
 Account(3)                                              |     |   | 535,667 |     | Remaining Cash on Balance    
 Sheet(6)                     |     |   | (22,610,556 | ) |
| Total Sources                                           |     | $ |