Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 755

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 755
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 Promissory Note in the total principal amount of up to $ 825,000to the Sponsor. The Convertible Promissory Note bears an interest accruing on the unpaid and outstanding total principal amount at the lowest short-term Applicable Federal Rate as in effect on the date thereof and is payable in arrears on the Maturity Date. Interest will be calculated on the basis of a 365-dayyear and the actual number of days elapsed, to the extent permitted by applicable law. The Convertible Promissory Note was issued with an initial principal balance of $ 412,500. The Sponsor has further lent loans in the aggregate amount of $ 430,000on July 18, 2023, October 12, 2023 and December 29, 2023. On December 29, 2023 the Company and Sponsor agreed that, in addition to the Initial Principal Amount, the Company may request an additional aggregate amount of up to $ 157,500, which may be drawn down in one or more tranches at any time prior to the Maturity Date, raising the total limit up to $ 1,000,000. On April 2, 2024, the Company and Sponsor agreed that, in addition to the Initial Principal Amount, the Company may request an additional aggregate amount of up to $ 186,800, which may be drawn down in one or more tranches at any time prior to the Maturity Date, raising the total limit up to $ 1,200,000. On January 24, 2025, the Company and Sponsor agreed that, in addition to the Initial Principal Amount, the Company may request an additional aggregate amount of up to $ 591,800, which may be drawn down in one or more tranches at any time prior to the Maturity Date, raising the total limit up to $ 2,000,000. The Sponsor further lent an aggregate of $ 565,700to the Company against the Convertible Promissory Note during the year ended December 31, 2024. As of December 31, 2024, there was an amount of $ 1,408,200outstanding under Working Capital Loans in the form of the Convertible Promissory Note issued to Sponsor. Further, an F-27

amount of $ 74,555with interest at 4.86% on the amount borrowed from the Sponsor was recognized as accrued interest expense – related party as of December 31, 202