Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 133

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 133
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     |   |         |     | Remaining Cash on Balance                           
 Sheet(7)                                            |     |   | (22,878,388 | ) |
| Total Sources                                           |     | $ | 545,782 |     | Total Uses                                          |     | $ |     545,782 |   |

| (1) | Totals may be affected by rounding. |

| (2) | As of March 31, 2025. |

| (3) | Reflects cash plus accrued interest as of April 15, 2025. |

| (4) | Reflects the redemption of Denali Class A Ordinary Shares by public stockholders. |

| (5) | Reflects the repayment of estimated legal, audit, consulting and other transaction-related expenses. |

| (6) | Reflects the estimated repayment amount of the Denali Promissory Notes due to the Sponsor, FutureTech and Scilex of $2,986,380 in aggregate principal and interest as of June 30, 2025, assuming each monthly extension fee payment is made through June 2025. |

| (7) | Reflects the cash on balance sheet after giving effect to the repayment and uses for funding the Business Combination. New Semnur will receive intercompany funding and capital support from Scilex until New Semnur obtains sufficient financing on its own. New Semnur will also seek to raise additional funds through various potential sources, such as equity offerings, debt financings, collaborations, government contracts or other capital sources, including potential collaborations with other companies or other strategic transactions. There is no assurance that any such financings will be obtained. See the section titled “Management’s Discussion and Analysis of Financial Condition and Results of Operations of Semnur — Liquidity and Capital Resources — Future Liquidity Needs.” |

Maximum Redemption Scenario The following table summarizes the sources and uses for funding the Business Combination assuming maximum redemptions by public shareholders. This scenario assumes that all cash held in the Trust Account is used for such redemptions and reflects the maximum number of public shares that can be redeemed without violating the conditions of the Merger Agreement.

| Sources of Funds(1)                                     |     |   |         |     | Uses of Funds(1)                                    |     |   |             |   |
|:--------------------------------------------------------|:----|:--|--------:|:----|:----------------------------------------------------|:----|:--|------------:|:--|
| Cash balance of Semnur