Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 464

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 464
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 expenses of $59,423, accounts payable and accrued expenses of $53,524, accrued interest expense — related party of $11,430 and accrued interest expense — others of
$9,873. In addition, net cash used in operating activities includes adjustments to reconcile net income from income on the Trust Account of $653,885.

For
the year ended December 31, 2024, net cash used in operating activities was $753,296, primarily due to a net loss of $167,306 for the period and the changes in current assets and liabilities of $585,990, primarily due to decrease of prepaid
expenses of $4,976 and increase in accounts payable, accrued expenses of $890,833, increase in accrued interest expense — related party of $56,534 and increase in accrued interest expense — others of $39,709. In addition, net cash used
in operating activities includes non-cash adjustments to reconcile net loss from income on the Trust Account of $1,578,042.

For the year ended December
31, 2023, net cash used in operating activities was $632,783, primarily due to a net income of $632,536 for the year and the changes in current assets and liabilities of $2,577,950, primarily due to prepaid expenses of $83,113, accounts payable and
accrued expenses of $2,457,940, accrued interest expense — related party of $18,021 and accrued interest expense — others of $18,878. In addition, net cash used in operating activities includes adjustments to reconcile net income from
income on the Trust Account of $3,843,271.

Cash Flows from Investing Activities

For the year ended December 31, 2024, net cash used in investing activities was $43,425,328 primarily due to cash withdrawn from Trust Account in connection
with redemption of 3,785,992 shares of our ordinary shares by our public shareholders.

For the year ended December 31, 2023, net cash provided by
investing activities was $39,711,908 primarily due to cash withdrawn from Trust Account in connection with redemption of ordinary shares amounting to

286

$40,536,908 partially offset by investment held in Trust Account of $825,000 to extend the period of time the Company has to consummate its initial business combination by an additional three
months, from the then current deadline of July 11, 2023 to October 11