Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 747

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 747
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31, 2024, there was an amount of $ 1,408,200and $ 15,037outstanding under Working Capital Loans in the form of the Convertible Promissory Note 1 and 2, respectively, issued to the Sponsor. As of December 31, 2024, the outstanding amount under the Working Capital Loans in the form of the Convertible Promissory Note 1 issued to the Sponsor had exceeded the limit of $ 1,200,000, reaching $ 1,408,200, resulting in an overdrawn position. To remediate this overdrawn balance, on January 24, 2025, the Company issued a third amended and restated promissory note (the “Third Restated Note”) to amend and restate Convertible Promissory Note 1, increasing the total principal amount to $ 2,000,000. On July 11, 2023, the Company issued a convertible note (“FutureTech Convertible Promissory Note”) in the total principal amount of $ 825,000to FutureTech Capital LLC (“FutureTech”) and 100% of such amount has been utilized to fund the required payment in order to extend the period of time to consummate a business combination. On October 11, 2023, the Company issued another convertible promissory note in the total principal amount of up to $ 450,000to FutureTech. The Convertible Promissory Note was issued with an initial principal balance of $ 50,000, with the remaining $ 400,000drawable at the Company’s request and upon the consent of FutureTech prior to the maturity of the Convertible Promissory Note. Consequently, $ 400,000of such amount has been utilized to fund the required payment in order to extend the period of time to consummate a business combination from October 11, 2023 to July 11, 2024. As of December 31, 2024, there was an amount of $ 1,275,000outstanding in the form of the Convertible Promissory Note issued to FutureTech. Further, the amount of $ 58,586with interest at 4.80% on amount borrowed from FutureTech for the Extension was recognized as accrued interest expense – others as of December 31, 2024. On August 9, 2024, the Company issued a convertible promissory note in the total principal amount of up to $