Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 20

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 20
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 Warrants by the holders thereof and (ii) 8,250,000 Public Warrants by the holders thereof. |

| Shares of Common Stock outstanding prior to exercise of all Warrants(1) | 229,740,978 shares of Common Stock. |

| Shares of Common Stock outstanding assuming exercise of all Warrants | 238,500,978 shares of Common Stock. |

| Exercise price of Warrants | $11.50 per share, subject to adjustment as described herein. |

| Use of Proceeds | We will receive up to an aggregate of approximately $100.74 million from the exercise of the Warrants, consisting of up to 510,000 Private Warrants and up to 8,250,000 Public Warrants, assuming the exercise in full of all of the Warrants for cash. We expect to use the net proceeds from the exercise of the Warrants for cash for working capital and general corporate purposes, which may include capital expenditures, research and development expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments, business combinations and the repayment, refinancing, redemption or repurchase of indebtedness or capital stock. See “Use of Proceeds” elsewhere in this prospectus. |

Resale of Common Stock and Private Warrants by the Selling Securityholders

| Shares of Common Stock offered by the Selling Securityholders | Up to 203,737,349 shares of our Common Stock, consisting of: |

| • |     | up to 2,072,500 Sponsor Shares; |

| • |     | up to 510,000 Private Warrant Shares; |

| • |     | up to 188,554,849 Scilex Shares; |

| • |     | up to 100,000 Underwriter Shares; and |

| • |     | up to 12,500,000 Biconomy Resale Shares. |

| Warrants offered by the Selling Warrantholders | Up to 510,000 Private Warrants. |

| Redemption | The Warrants are redeemable in certain circumstances. See “Description of Securities — Warrants” for further discussion. |

| Use of proceeds | We will not receive any proceeds from the sale of shares of Common Stock or Private Warrants by the Selling Securityholders, except with respect to amounts received by us upon the exercise of the Private Warrants for cash. |

| Lock-up restrictions | Certain of the securities held by the Selling Securityholders are subject to certain restrictions on transfer until the date that