Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 20

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 20
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 Second FutureTech Convertible Promissory Note bears interest equivalent to the lowest short-term Applicable Federal Rate and matures upon the earlier of (i) the closing of the Company’s initial business combination and (ii) the date of the liquidation of the Company. At the option of FutureTech, upon consummation of a business combination, the FutureTech Convertible Promissory Note and the Second FutureTech Convertible Promissory Note may be converted in whole or in part into Conversion Shares. The terms of the Conversion Shares will be identical to those of the Denali Private Placement Shares. Any conversion in connection with the FutureTech Convertible Promissory Note and the Second FutureTech Convertible Promissory Note would not have a material dilutive effect on non-converting shareholders. In the event that the Company does not consummate a

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business combination, the FutureTech Convertible Promissory Note and the Second FutureTech Convertible Promissory Note will be repaid only from funds held outside of the Trust Account or will be forfeited, eliminated or otherwise forgiven. The Scilex Note On August 9, 2024, Denali issued a convertible promissory note in the total principal amount of up to $180,000 to Scilex (the “Scilex Convertible Promissory Note”). The Scilex Convertible Promissory Note was issued with an initial principal balance of $15,037, with the remaining $164,963 drawable at Denali’s request and upon the consent of Scilex prior to the maturity of the Scilex Convertible Promissory Note. The Scilex Convertible Promissory Note matures upon the earlier of (i) the effective date of the consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company. At the option of Scilex, upon consummation of a business combination, the Scilex Convertible Promissory Note may be converted in whole or in part into Conversion Shares. The terms of the Conversion Shares will be identical to those of the Denali Private Placement Shares. Any conversion in connection with the Scilex Convertible Promissory Note would not have a material dilutive effect on non-converting shareholders. In the event that the Company does not consummate a business combination, the Scilex Convertible Promissory Note will be repaid only from funds held outside of the Trust Account or will