Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 562

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 562
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| Additional funding provided by Scilex to Semnur(1)                                                 |     |   | 10,567 |   |
| April 2025 Redemptions(2)                                                                          |     |   | (8,618 | ) |
| Payment of transaction estimated expenses through the Effective Date, as further discussed in (AA) |     |   | (6,559 | ) |
| Payment of Deferred Underwriting Commissions                                                       |     |   | (2,022 | ) |
| Accounts payable and accrued expenses as of December 31, 2024                                      |     |   | (4,640 | ) |
| Receipt from additional drawdown of convertible promissory note(3)                                 |     |   |    204 |   |
|                                                                                                    |     | $ | (2,047 | ) |

| (1) | Represents additional contributions from Scilex to Semnur which, if required to be made, will increase the Aggregate Outstanding Amount to be converted under the Debt Exchange Agreement. The additional contributions reflect the estimated additional contributions which Scilex is expected to contribute subsequent to December 31, 2024, which may be funded up to $60,000,000 pursuant to the Debt Exchange Agreement. As a result of these contributions under the Debt Exchange Agreement, Scilex is expected to receive 1,056,653 shares of New Semnur Series A Preferred Stock and 105,665 shares of New Semnur Common Stock upon Closing. The corresponding impact of the additional contributions is reflected as part of the recapitalization of Semnur. |

| (2) | In connection with the Third Extension Meeting on April 11, 2025, Denali public shareholders holding 708,098 Denali Class A Ordinary Shares elected to redeem their Denali Class A Ordinary Shares at a per share redemption price of $12.17. As such, this adjustment reflects the redemption of 708,098 Denali Class A Ordinary Shares out of the Trust Account for approximately $8.6 million as described in (H) below. |

| (3) | Represents the cash inflow in connection with the issuance and settlement of the convertible promissory notes as described in (E) below. |

| (B) | Reflects the reclassification of $6.0 million of deferred transaction costs to additional paid-in capital. |

| (C) | Reflects the reclassification of Investments Held in the Trust Account, of which $8.