Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 170

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 170
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                                                                                                           |     | $ | 31,430 |   |

| (1) | The adjustment to additional paid-in capital for recapitalization of Semnur is derived as follows: |

| (In thousands)                                                                                       |     |   |        |   |
|:-----------------------------------------------------------------------------------------------------|:----|:--|-------:|:--|
| Additional funding provided by Scilex to Semnur subsequent to the balance sheet date (see (A) above) |     | $ |  2,064 |   |
| Plus: Elimination of Related Party Loan as of balance sheet date (see (F) above)                     |     |   | 52,172 |   |
| Plus: Elimination of historical par value Legacy Semnur Common Stock (see (I) above)                 |     |   |      2 |   |
| Less: Par value of New Semnur Common Stock issued to Scilex                                          |     |   |    (20 | ) |
| Less: Par value of New Semnur Preferred Stock issued to Scilex                                       |     |   |     (1 | ) |
| Total                                                                                                |     | $ | 54,217 |   |

| (K) | Reflects pro forma adjustments to accumulated deficit as follows: |

| (In thousands)                                                                                                                                                                     |     |   |        |   |
|:-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|:----|:--|-------:|:--|
| Represents estimated transaction costs incurred by Legacy Semnur subsequent to the balance sheet date for expenses which are not capitalizable, as further discussed in (AA) below |     | $ |   (210 | ) |
| Elimination of Denali’s historical retained earnings                                                                                                                               |     |   | 11,142 |   |
| Total                                                                                                                                                                              |     | $ | 10,932 |   |

| (L) | Reflects the expected gross proceeds of $20.0 million from the private placement of 1,250,000 shares of New Semnur Common Stock, par value $0.0001 per share, at $16.00 per share pursuant to the PIPE SPA. The issuance of such shares would also increase the par value of New Semnur Common Stock. However, the impact on the par value is less than $1,000 and is not shown separately. |

| (M) | Reflects the impact to additional paid-in capital and cash after final redemption of 30,