Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 794

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 794
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 Note was issued with an initial F-46

principal balance of $ 50,000, with the remaining $ 400,000drawable at the Company’s request and upon the consent of FutureTech prior to the maturity of the Convertible Promissory Note. Consequently, $ 400,000of such amount has been utilized to fund the required payment in order to extend the period of time to consummate a business combination from October 11, 2023 to July 11, 2024. As of March 31, 2025, there was an amount of $ 1,275,000outstanding in the form of the Convertible Promissory Note issued to FutureTech. Further, the amount of $ 68,351with interest at 4.80% on amount borrowed from Futuretech for the Extension was recognized as accrued interest expense – others as of March 31, 2025. On August 9, 2024, the Company issued a convertible promissory note in the total principal amount of up to $ 180,000to 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 $ 164,936drawable 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. As of March 31, 2025, Scilex deposited aggregated total of $ 120,482drawn 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 April 11, 2025. On April 11, 2025 and May 9, 2025, Scilex had deposited an aggregate of $ 1,750drawn 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 April 11, 2025 to June 11, 2025. Based on the foregoing, management believes that the Company will not have sufficient working capital and borrowing capacity to