Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 163

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 163
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 exercise price will be paid directly to New Semnur. On August 20, 2025, Semnur and Denali entered into a securities purchase agreement (the “PIPE SPA”) with the investor named therein (the “PIPE Investor”), pursuant to which the investor agreed to purchase 1,250,000 shares of New Semnur Common Stock, par value $0.0001 per share, at a price of $16.00 per share, for an aggregate purchase price of $20.0 million upon consummation of the Business Combination. On September 22, 2025, the PIPE SPA was amended to provide that unless such agreement was terminated pursuant to its terms (or otherwise by mutual agreement of the parties thereto), the closing would occur not later than the 14th business day following the closing of the Business Combination, subject to the satisfaction or waiver of the closing conditions set forth therein. Net tangible assets consist of the Company’s total assets (excluding any goodwill or intangibles), less any liabilities outstanding after the Closing.

| (in thousands)          |     |   |        |
|:------------------------|:----|:--|-------:|
| Total Assets            |     | $ | 19,699 |
| Less: Total Liabilities |     |   | 12,908 |
| Net Tangible Assets     |     | $ |  6,791 |

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#### The following summarizes the pro forma ownership of New Semnur Common Stock following the Business Combination. As noted below in footnote 5, this table does not reflect shares of New Semnur Series A Preferred Stock that may be issued because such shares are not convertible into shares of New Semnur Common Stock.HoldersSharesOwnership %Denali public shareholders13,6290.01%Denali initial shareholders1,562,5000.66%Shares Underlying the Private Units510,0000.22%Scilex Holding Company(1)201,054,84985.56%Consultant Fees Paid in Shares(2)30,500,00012.98%PIPE Investor(3)1,250,0000.53%Underwriters Fees Paid in Shares(4)100,0000.04%Total Number of Shares(5)234,990,978100.0%(1)The number of shares of New Semnur Common Stock held by Scilex at the Closing is based on the following: (a) 200,000,000 shares