Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 169

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 169
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 |   |  (125 | ) |
| Reflects partial cash repayment of Denali promissory note issued to FutureTech Capital LLC at Closing       |     |   |  (340 | ) |
| Total                                                                                                       |     | $ | 2,257 |   |

(E4) Reflects net cash payment of Denali promissory note issued to Sponsor as of Closing.

| (F) | Reflects the conversion of the Related Party Loan due to Scilex to equity. |

| (G) | Reflects the reclassification of deferred underwriting commissions and legal fees to Note Payables. |

| (H) | Reflects the impact to Denali redeemable common stock after final redemption of 30,110 public shares in September 2025 and subsequent reclass of remaining carrying value from temporary equity to permanent equity at Closing. |

| (I) | Reflects conversion and recapitalization of Legacy Semnur Common Stock and Legacy Semnur Preferred Stock into New Semnur Common Stock and New Semnur Class A Preferred Stock pursuant to the Merger Agreement. |

| (J) | Represents pro forma adjustments to additional paid-in capital balance to reflect the following: |

| (In thousands)                                                                                            |     |   |         |   |
|:----------------------------------------------------------------------------------------------------------|:----|:--|:--------|:--|
| Elimination of Historical Denali Retained Earnings                                                        |     | $ | (11,142 | ) |
| Represents reclassification of deferred transaction costs incurred by Semnur as of balance sheet date     |     |   | (8,335  | ) |
| Represents estimated transaction costs incurred by Denali and Semnur subsequent to the balance sheet date |     |   | (3,459  | ) |
| Represents additional paid in capital for elimination of deferred underwriting commissions and legal fees |     |   | (112    | ) |

112

| (In thousands)                                                                                                  |     |   |        |   |
| Represents reclassification of cash held in trust                                                               |     |   |    (10 | ) |
| Represents additional paid in capital to record settlement of note extension net of additional accrued interest |     |   |    104 |   |
| Reclassification of Denali redeemable common stock                                                              |     |   |    167 |   |
| Reflects recapitalization of Semnur(1)                                                                          |     |   | 54,217 |   |
| Total