Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 807

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 807
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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-54

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 initial Business Combination or 12 months from the closing of the IPO and will expire five yearsafter the completion of the Company’s initial Business Combination or earlier upon redemption or liquidation (see Note 7). NOTE 4 – PRIVATE PLACEMENT Simultaneously with the closing of the IPO, the Company consummated a private placement and the Sponsor purchased an aggregate of 510,000Private Placement Units (including 30,000Private Placement Units pursuant to the underwriters’ partial exercise of the over