Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 804

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 804
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 to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. ASU 2023-09,Improvements to Income Tax Disclosures, applies to all entities subject to income taxes. For public business entities (PBEs), the new requirements will be effective for annual periods beginning after December 15, 2024. For entities other than public business entities (non-PBEs),the requirements will be effective for annual periods beginning after December 15, 2025. The guidance will be applied on a prospective basis with the option to apply the standard retrospectively. Early adoption is permitted. The Company had adopt the ASU 2023-09on January 1, 2025, and the adoption does not have material impact on its unaudited condensed consolidated financial statements. In November 2024, the FASB issued ASU 2024-03,“Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures” (“ASU 2024-03”),which requires disaggregated disclosure of certain costs and expenses, including purchases of inventory, employee compensation, depreciation, amortization and depletion, in each relevant expense caption. ASU 2024-03 iseffective for fiscal years beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption and retrospective application is permitted. The Company is currently assessing the impact of this guidance; however, the Company does not expect a material impact on its unaudited condensed consolidated financial statements. Management does not believe that any other recently issued, but not effective, accounting standards, if currently adopted, would have a material effect on the Company’s unaudited condensed consolidated financial statements. NOTE 3 – INITIAL PUBLIC OFFERING On April 11, 2022, the Company consummated the IPO of 8,250,000Public Units, inclusive of 750,000Public Units issued pursuant to the underwriters’ partial exercise of their over-allotment option. The Public Units were sold at a purchase price of $ 10.00per Public Unit, generating gross proceeds of $ 82,500,000. Each Public Unit F-5 5

consists of onePublic Share and onePublic Warrant. Each Public Warrant entitles the holder thereof to purchase onePublic Share at a price of $ 11.50per share. The warrants will become exercisable on the later of 30 days after the completion of the Company’s