Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 817

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 817
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 Total formation and operating costs                               |     |                               | (246,600 | ) |     |                               | (368,252 | ) |
| Interest expense                                                  |     |                               |  (26,974 | ) |     |                               |  (21,303 | ) |
| Interest earned on investment held in Trust Account               |     |                               |   78,971 |   |     |                               |  653,885 |   |
| Net (loss) income                                                 |     | $                             | (194,603 | ) |     | $                             |  264,330 |   |

The key measures of segment profit or loss reviewed by our CODM are interest earned on investment in Trust Account and formation and operating expenses. The CODM reviews interest earned on investment in Trust Account to measure and monitor shareholder value and determine the most effective strategy of investment with the Trust Account funds while maintaining compliance with the trust agreement. Within formation and operating costs, the CODM specifically reviews professional service fee in connection with the business combination, which are a significant segment expense, and include legal fees, and advisory fees, as these represent significant costs affecting the Company’s consummation of the Business Combination. Other formation and operating costs, including accounting expenses, printing expenses, and regulatory filing fees, are reviewed in aggregate to ensure alignment with budget and contractual obligations. These expenses are monitored to manage and forecast cash available to complete a business combination within the required period.

F-6 2

NOTE 10 – SUBSEQUENT EVENTS The Company has evaluated subsequent events through May 15, 2025 when these consolidated financial statements were issued and determined that there were no significant unrecognized events through that date other than those noted below. In connection with the shareholder meeting held on April 11, 2025, shareholders holding 708,098public shares exercised their right to redeem such shares for a pro rata portion of the funds in the Company’s Trust Account. As a result, approximately $ 8.6million (approximately $ 12.17per share) was removed from the Trust Account to pay such holders. Following redemptions, the Company had 43,739public shares outstanding. On April 11, 2025 and May 9, 2025, Scilex deposited an aggregated total of $ 1,750drawn down from the Extension Scilex Convertible Promissory Note to the Trust Account to extend the time the Company has to consummate an initial business combination to June 11,