Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 559

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 559
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 or similar business combination involving Denali and one or more businesses or entities. In connection with the Second Extension Meeting, shareholders holding 3,785,992 public shares exercised their right to redeem such shares for a pro rata portion of the funds in the Trust Account. As a result, approximately $43.4 million (approximately $11.47 per share) was removed from the Trust Account to pay such holders. On April 11, 2025, Denali held the Third Extension Meeting to vote on certain matters, including extending the date by which Denali must consummate a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving Denali and one or more businesses or entities. In connection with the Third Extension Meeting, shareholders holding 708,098 public shares exercised their right to redeem such shares for a pro rata portion of the funds in the Trust Account. As a result, approximately $8.6 million (approximately $12.17 per share) was removed from the Trust Account to pay such holders. Following such redemptions, Denali had 29,117 public shares outstanding and an additional 14,622 public shares underlying a corresponding number of Public Units. Accordingly, the redemption scenarios below only relate to the remaining public shares and the funds held in the Trust Account, assuming that Denali has an aggregate of 43,739 public shares outstanding (comprised of the 29,117 public shares currently outstanding and assuming that the holders of 14,622 Public Units have voluntarily separated such units into their component parts prior to the Closing such that the 14,622 public shares underlying such units are available for redemption in connection with the Business Combination) prior to any additional redemptions which may occur in conjunction with the proposed Business Combination.

| • |     | Assuming No Redemptions: This scenario assumes that no Denali public shareholders exercise their right to redeem any of their Denali Class A Ordinary Shares for a pro rata portion of the funds in the Trust Account, and thus the full amount held in the Trust Account as of the Closing is available for the Business Combination. |

| • |     | Assuming 25% Redemptions: This scenario assumes that 10,935 Denali Class A Ordinary Shares (25% of the issued and outstanding Denali Class A Ordinary Shares) are redeemed at approximately $12.17 per share for an aggregate payment of $133,079 to be redeemed out of the Trust Account. |

| • |     | Assuming 50