Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 633

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 633
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 million
(approximately $11.47 per share) was removed from the Trust Account to pay such holders. Following redemptions, the Company had 751,837
public shares outstanding.

On July
10, 2024, Company issued a convertible promissory note (the “Convertible Promissory Note 2”) in the total principal amount
of up to $180,000 to Sponsor. The Convertible Promissory Note 2 was issued with an initial principal balance of $15,037, with the remaining
$164,963 drawable at the Company’s request and upon the consent of the Sponsor prior to the maturity of the Convertible Promissory
Note 2. The Convertible Promissory Note 2 matures upon the earlier of (i) the effective date of the consummation of the Company’s
initial business combination and (ii) the date of the liquidation of the Company. 

On August 9, 2024, the Company issued a convertible promissory note
in the total principal amount of up to $180,000 to Scilex (the “Extension Scilex Convertible Promissory Note”). The Extension
Scilex Convertible Promissory Note was issued with an initial principal balance of $15,064, with the remaining $164,936 drawable at the
Company’s request and upon the consent of Scilex prior to the maturity of the Extension Scilex Convertible Promissory Note. The
Extension Scilex Convertible Promissory Note matures upon the earlier of (i) the effective date of the consummation of the Company’s
initial business combination and (ii) the date of the liquidation of the Company.

F-9

Denali
Capital Acquisition Corp.

Notes
to Consolidated Financial Statements

As
of December 31, 2024, Scilex deposited aggregated total of $75,292 drawn down from the Extension Scilex Convertible Promissory Note to
the Trust Account to extend the time the Company has to consummate an initial business combination to January 11, 2025.

On January 6, 2025, February 11, 2025 and March 11, 2025, Scilex had
deposited an aggregate of $45,191 drawn down from the Extension Scilex Convertible Promissory Note to the Trust Account to extend the
time the Company has to consummate an initial business combination from January