Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 457

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 457
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 • |     | Assuming 75% Redemptions: This scenario assumes that 32,805 Denali Class A Ordinary Shares (75% of the issued and outstanding Denali Class A Ordinary Shares) are redeemed at approximately $12.17 per share for an aggregate payment of $399,237 to be redeemed out of the Trust Account. |

| • |     | Assuming 100% Redemptions: This scenario assumes that 43,739 Denali Class A Ordinary Shares are redeemed at approximately $12.17 per share for an aggregate payment of $532,304 to be redeemed out of the Trust Account. |

The unaudited pro forma condensed combined financial statements have been presented for illustrative purposes only and do not necessarily reflect what the combined financial condition or results of operations would have been had the Business Combination occurred on the dates indicated. Further, the unaudited pro forma condensed combined financial information also may not be useful in predicting the future financial condition and results of operations of the combined companies. The actual financial position and results of operations may differ significantly from the pro forma amounts reflected herein due to a variety of factors. The unaudited pro forma adjustments represent management’s estimates based on information available as of the date of these unaudited pro forma condensed combined financial statements and are subject to change as additional information becomes available and analyses are performed.

| (In thousands, except share and per share                           
 amounts)                                                            
 Statement of Operations Data                                        
 Three Months Ended March 31, 2025                                   |     | Pro Forma    
 Combined     
 (Assuming No 
 Redemptions) |             |   |     | Pro Forma   
 Combined    
 (Assuming   
 25%         
 Redemption) |             |   |     | Pro Forma   
 Combined    
 (Assuming   
 50%         
 Redemption) |             |   |     | Pro Forma   
 Combined    
 (Assuming   
 75%         
 Redemption) |             |   |     | Pro Forma   
 Combined    
 (Assuming   
 100%        
 Redemption) |             |   |
|:--------------------------------------------------------------------|:----|:-------------|------------:|:--|:----|:------------|------------:|:--|:----|:------------|------------:|:--|:----|:------------|------------:|:--|:----|:------------|------------:|:--|
| Net loss                                                            |     | $            |     (70,723 | ) |     | $           |     (70,723