Company: SMNR
Filing Date: 2025-04-21
Form Type: S-4/A
Source: 0001193125-25-087342
Chunk: 560

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-21
Form: S-4/A
Chunk 560
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 liabilities outstanding after the Closing. The below summarizes net tangible assets under each redemption scenario.

|                         |     | No         
 Redemption 
 Scenario   |        |   |     | 25%        
 Redemption 
 Scenario   |        |   |     | 50%        
 Redemption 
 Scenario   |        |   |     | 75%        
 Redemption 
 Scenario   |        |   |     | 100%       
 Redemption 
 Scenario   |        |   |
|:------------------------|:----|:-----------|-------:|:--|:----|:-----------|-------:|:--|:----|:-----------|-------:|:--|:----|:-----------|-------:|:--|:----|:-----------|-------:|:--|
| Total Assets            |     | $          |    691 |   |     | $          |    691 |   |     | $          |    691 |   |     | $          |    691 |   |     | $          |    691 |   |
| Less: Total Liabilities |     |            |  2,053 |   |     |            |  2,186 |   |     |            |  2,319 |   |     |            |  2,452 |   |     |            |  2,585 |   |
| Net Tangible Assets     |     | $          | (1,362 | ) |     | $          | (1,495 | ) |     | $          | (1,628 | ) |     | $          | (1,761 | ) |     | $          | (1,894 | ) |

Autonomous Entity Adjustments to Unaudited Pro Forma Condensed Combined Balance Sheet The unaudited pro forma condensed combined balance sheet as of December 31, 2024 does not reflect amounts for autonomous entity adjustments as management does not anticipate any net asset impact to be derived from expected contractual arrangements, such as the Transition Services Agreement, to be executed in connection with the closing of the Business Combination. Autonomous Entity Adjustments to Unaudited Pro Forma Condensed Combined Statement of Operations The autonomous entity adjustments included in the unaudited pro forma condensed combined statement of operations for the fiscal year ended December 31, 2024 reflect adjustments to the estimated incremental portion of the cost of transition services to be provided by Scilex, pursuant to the execution of the Transition Services Agreement that is expected