Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 385

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 385
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 for up to eight (8) times by an additional one month each time, unless the closing of the Company’s initial business combination has occurred, without the need for any further approval of the Company’s shareholders, provided that the Sponsor (or its affiliates or permitted designees or a third party) will deposit into the Trust Account for each such one-month extension $ 0.02per public share that remains outstanding and is not redeemed prior to any such one-month extension, unless the closing of the Company’s initial business combination has occurred, in exchange for a non-interest bearing promissory note payable upon consummation of an initial business combination. In connection with the extraordinary general meeting on April 11, 2025, shareholders holding 708,098public shares exercised their right to redeem such shares for a pro rata portion of the funds in the Company’s Trust Account. As a result, approximately $ 8.6million (approximately $ 12.17per share) was removed from the Trust Account to pay such holders. Following redemptions, the Company had 43,739public shares outstanding. On April 11, 2025 and May 9, 2025, Scilex deposited an aggregate of $ 1,750, drawn down from the Extension Scilex Convertible Promissory Note, to the Trust Account to extend the time the Company has to consummate an initial business combination from April 11, 2025 to June 11, 2025. On June 11, 2025, Scilex deposited an additional $ 874.78, drawn down from the Extension 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 Extension 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. On July 22, 2025, the Company entered into Amendment No. 2 to the Merger Agreement with Semnur and Merger Sub (“Amendment No. 2”). Amendment No. 2 amends the Merger Agreement to, among other things, modify the definitions of the “Exchange Ratio” and “Merger Consideration” to facilitate the issuance of additional shares of common stock