Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 732

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 732
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 treating the entire periodic adjustment to the carrying amount of the Class A ordinary shares subject to possible redemption like a dividend. Based on the above, any remeasurement of the redemption value of the Class A ordinary shares subject to possible redemption is considered to be dividends paid to the Public Shareholders. Warrants issued are contingently exercisable (i.e., on the later of 30 days after the completion of the initial Business Combination or 12 months from the closing of the IPO). Further, Convertible Promissory Notes are also contingently exercisable upon the consummation of the initial Business Combination. For EPS purpose, the warrants and notes are anti-dilutive since they would generally not be reflected in basic or diluted EPS until the contingency is resolved. For F-23

the years ended December 31, 2024 and 2023, the Company did not have any other dilutive securities and other contracts that could, potentially, be exercised or converted into ordinary shares and then share in the earnings of the Company. As a result, diluted income per ordinary share is the same as basic earnings per ordinary share for the periods presented. The net income per share presented in the consolidated statements of operations is based on the following:

|                                                   |     | For the year 
 ended        
 December 31, 
 2024         |            |   |     | For the year 
 ended        
 December 31, 
 2023         |            |   |
|:--------------------------------------------------|:----|:-------------|:-----------|:--|:----|:-------------|-----------:|:--|
| Net (loss)/income                                 |     | $            | (167,306   | ) |     | $            |    632,536 |   |
| Accretion of temporary equity to redemption value |     |              | (1,968,370 | ) |     |              | (5,643,271 | ) |
| Net loss including accretion of temporary equity  |     | $            | (2,135,676 | ) |     | $            | (5,010,735 | ) |

|                                                                |     | For the           
 Year Ended        
 December 31, 2024 |            |   |     |            |            |   |     | For the           
 Year Ended        
 December 31, 2023 |            |   |     |            |            |   |
|:---------------------------------------------------------------|:----|:------------------|-----------:|:--|