Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 6

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 6
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 of (a) 2,091,617 shares issuable in exchange for all outstanding Denali Ordinary Shares in connection with the Domestication, (b) 250,600,000 shares, the maximum number of shares that may be issued in connection with the Business Combination to Scilex and, assuming approval of the Option Exchange Proposal, holders of outstanding options to purchase shares of Semnur Common Stock, (c) 8,235,378 shares issuable upon exercise of public warrants to purchase New Semnur Common Stock, (d) 524,622 shares underlying a corresponding number of Public Units and Denali Private Placement Units (combined) and (e) 524,622 shares issuable upon exercise of Public Warrants and Denali Private Placement Warrants underlying a corresponding number of Public Units and Denali Private Placement Units, respectively (combined); (ii) 524,622 units, which consists of 14,662 Public Units and 510,000 Denali Private Placement Units; (iii) 6,000,000 shares of Series A

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Preferred Stock, the maximum number of shares that may be issued to Scilex upon consummation of the Business Combination; and (iv) 8,760,000 New Semnur Warrants issuable in the Business Combination in exchange for (a) 8,235,378 Public Warrants and (b) 524,622 warrants underlying the corresponding number of Public Units and Denali Private Placement Units (combined).

It is anticipated that, upon the closing of the Business Combination, if none of the 43,739 Denali Class A Ordinary Shares (which includes 14,622 shares underlying the Public Units) currently issued and outstanding and subject to redemption have been redeemed, Denali’s public shareholders will retain an ownership interest of less than 0.1% in New Semnur, the Sponsor and the holders of founder shares (collectively, the “Initial Shareholders”) will retain an ownership interest of approximately 0.7% in New Semnur, and Scilex, the controlling stockholder of Semnur, will own approximately (i) 92.4% of New Semnur in the form of New Semnur Common Stock (without taking into account the dilutive impact of the Scilex Dividend described elsewhere in this proxy statement/prospectus) and (ii) 2.8% of New Semnur in the form of New Sem