Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 582

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 582
---
 Third Extension Meeting on April 11, 2025, Denali public shareholders holding 708,098 Denali Class A Ordinary Shares elected to redeem their Denali Class A Ordinary Shares at a per share redemption price of $12.17. As such, this adjustment reflects the redemption of 708,098 Denali Class A Ordinary Shares out of the Trust Account for approximately $8.6 million as described in (H) below. |

| (3) | Represents the cash inflow in connection with the issuance and settlement of the convertible promissory notes as described in (E) below. |

| (B) | Reflects the reclassification of $6.8 million of deferred transaction costs to additional paid-in capital. |

| (C) | Reflects the reclassification of Investments Held in the Trust Account, of which $8.6 million is reflected as a decrease in cash and cash equivalents as a result of redemptions by Denali public shareholders in conjunction with the Third Extension Meeting on April 11, 2025. |

| (D) | Reflects the repayment of Denali’s accounts payable and accrued offering costs and expenses and the amount of negative cash reclassified to accounts payable as described in (M) below. |

354

| (E) | Reflects the repayment of the convertible promissory notes to Scilex, FutureTech and the Sponsor, and related accrued interest (as and if applicable). The adjustment assumes that all of the Denali Promissory Notes will be converted into shares of New Semnur Common Stock under all redemption scenarios. |

| (In thousands)                              |     |   |       |
|:--------------------------------------------|:----|:--|------:|
| Convertible Promissory Note — Related Party |     | $ | 1,523 |
| Convertible Promissory Note — Others        |     |   | 1,395 |
| Accrued interest expense — Related Party    |     |   |    92 |
| Accrued interest expense — Others           |     |   |    68 |
| Total as of March 31, 2025                  |     | $ | 3,078 |

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

| (G) | Reflects the repayment of deferred underwriting and legal fees, which is being settled in a combination of cash and shares. |

| (In thousands)                                     |     |