Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 121

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 121
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 the time the Company has to consummate an initial business combination to April 11, 2025. Subsequent to the quarter ended March 31, 2025, Scilex deposited an aggregate of $1,750 on April 11, 2025 and May 9, 2025, drawn down from the Scilex Convertible Promissory Note, to the Trust Account to extend the time the Company has to consummate an initial business combination to June 11, 2025. On June 11, 2025, Scilex deposited an additional $874.78, drawn down from the Scilex Convertible Promissory Note, to the Trust Account to extend the time the Company has to consummate an initial business combination to July 11, 2025. On July 11, 2025, Scilex deposited an additional $874.78, drawn down from the Scilex Convertible Promissory Note, to the Trust Account to extend the time the Company has to consummate an initial business combination to August 11, 2025. |

The reimbursements payable to, or the conversion of shares by the Sponsor, FutureTech and Scilex at Closing will not result in a material dilution of the equity interests of non-redeeming Denali Shareholders. See “ Proposal 1 — The Business Combination Proposal — Total Shares of Common Stock and Preferred Stock Outstanding Upon Consummation of the Business Combination” and “ 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?” Restrictions on the Transfer of Securities Pursuant to the Letter Agreement, each of the Sponsor, directors and officers has agreed to restrictions on its ability to transfer, assign, or sell the founder shares and Denali Private Placement Units (and the underlying securities), as summarized in the table below. In addition, pursuant to the Sponsor Interest Purchase Agreement, Scilex confirmed its understanding that the founder shares have the terms and restrictions (including being subject to the lockup and other transfer

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restrictions) set out in the registration statement on Form S-1filed by Denali with the SEC (File No. 333-263123)and declared effective on April 6, 2022.

| Subject Securities |     | Expiration Date                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |     | Persons