Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 808

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 808
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-allotment option) at a price of $ 10.00per Private Placement Unit, generating gross proceeds to the Company of $ 5,100,000. Each whole Private Placement Unit consists of oneClass A ordinary share (“Private Placement Shares”) and onewarrant (“Private Placement Warrants”). Each Private Placement Warrant entitles the holder to purchase oneClass A ordinary share at a price of $ 11.50per share, subject to adjustment. Certain of the proceeds from the sale of the Private Placement Units were added to the net proceeds from the IPO held in the Trust Account. If the Company does not complete a Business Combination by June 11, 2025 (or as may be extended by a shareholder vote to further extend the time to consummate a business combination, as applicable)(refer to Note 1), the proceeds from the sale of the Private Placement Units held in the Trust Account will be used to fund the redemption of the Company’s Class A ordinary shares (subject to the requirements of applicable law) and the Private Placement Units and all underlying securities will expire worthless. The Private Placement Units will not be transferable, assignable, or saleable until 30 days after the completion of an initial Business Combination, subject to certain exceptions. NOTE 5 – RELATED PARTY TRANSACTIONS Founder Shares On February 3, 2022, the Company issued an aggregate of 2,156,250founder shares to the Sponsor in exchange for a payment of $ 25,000from the Sponsor for deferred offering costs. In March 2022, the Sponsor transferred 20,000founder shares to the Chief Financial Officer of the Company and 110,000founder shares to certain members of the Company’s board of directors. On May 23, 2022, 93,750founder shares were forfeited by the Sponsor as the underwriters did not exercise their over-allotment option on the remaining 375,000Public Units (see Note 6), resulting in the Sponsor holding a balance of 1,932,500founder shares. The founder shares are identical to the Class A ordinary shares included in the units sold in the IPO, except that the founder shares will automatically convert into Class A ordinary shares at the time of the Company’s initial Business Combination (see Note 7). Also, the Sponsor and each member of the Company’s management team have entered into an agreement with the Company, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares and Public Shares