Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 313

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 313
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 members of the Company’s board of directors. On May 23, 2022, 93,750 founder shares were forfeited by the Sponsor as the underwriters did not exercise their over-allotment option on the remaining 375,000 Public Units, resulting in the Sponsor holding an aggregate of 1,932,500 Denali Class B Ordinary Shares of which 500,000 were subsequently sold to Scilex pursuant to the Sponsor Interest Purchase Agreement.

The registration statement for our IPO was declared effective on April 6, 2022 and on April 11, 2022, we consummated the IPO of 8,250,000 Public Units at $10.00 per Public Unit, including 750,000 Public Units subject to the underwriters’ over–allotment option. Each Public Unit consists of one Denali Class A Ordinary Share and one Public Warrant. Each whole Public Warrant entitles the holder to purchase one Denali Class A Ordinary Share at a price of $11.50 per share, subject to adjustment.**

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US Tiger and EF Hutton acted as joint book–running managers for the IPO, and their underwriting fees consisted of $1,650,000 paid at the closing of the IPO and $2,887,500 in deferred underwriting fees to be paid at the closing of the Business Combination.

Simultaneously with the closing of the IPO, Denali consummated the private placement of 510,000 Denali Private Placement Units at a price of $10.00 per Denali Private Placement Unit, generating gross proceeds of $5,100,000. The Denali Private Placement Units were purchased by the Sponsor. Each whole Denali Private Placement Unit consists of one Denali Class A Ordinary Share and one Denali Private Placement Warrant, each whole warrant entitling the holder thereof to purchase one Denali Class A Ordinary Share at an exercise price of $11.50 per share.

Expenses associated with the IPO totaled $1,150,000 which also included $650,000 of other operating expenses. Upon consummation of the IPO, Denali deposited $84,150,000 into the Trust Account for the benefit of the public shareholders and Maxim with respect to the deferred portion of its fee.

Prior to the consummation of the IPO, neither Denali nor anyone on its behalf, contacted any prospective target businesses or had any substantive discussions, formal or otherwise, with respect to a transaction with