Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 11

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 11
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 the aggregate $2,887,500 Deferred Discount owed to them upon the closing of the Business Combination in the form of 86,625 shares of common stock of Holdco (the “Common Stock Consideration”). Upon the terms of the Deferred Discount Agreement, the Common Stock Consideration will be issued at the Closing and the remaining $2,021,250 of the aggregate Deferred Discount owed will remain payable at the Closing in cash in accordance with the terms of the Underwriting Agreement.

It is expected that the Denali Underwriters will enter into an amended and restated Deferred Discount Agreement under significantly the same terms as the Deferred Discount Agreement, under which the Denali Underwriters will receive shares of New Semnur Common Stock for the Common Stock Consideration.**

<div align='center'>v</div>

Compensation Received or to be Received by, and Securities Issued or to be Issued to, the Directors and Officers of Denali Prior to the consummation of the IPO, the Sponsor assigned 50,000 Denali Class B Ordinary Shares to Lei Huang, the Chief Executive Officer of Denali and director, 20,000 Denali Class B Ordinary Shares to You Sun, the Chief Financial Officer of Denali, and 20,000 Denali Class B Ordinary Shares to each of Huifeng Chang, Jim Mao and Kevin Vassily, each a director of Denali, for no consideration. At Closing, pursuant to the Merger Agreement, New Semnur will use cash from the Trust Account (as defined below) to pay Denali transaction expenses and to reimburse or pay Sponsor for any outstanding loans or other obligations of Denali or New Semnur to Sponsor. Denali currently estimates that the total amount payable for Denali transaction expenses and any outstanding loans or other obligations of Denali to Sponsor is approximately $10.5 million, inclusive of the $1,523,237 principal balance under the Working Capital Loans, as of March 31, 2025. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into Denali Class A Ordinary Shares, at a price of $10.00 per share, upon consummation of the Business Combination. The shares would be identical to the Denali Private Placement Shares underlying the Denali Private Placement Units that the Sponsor purchased on April 6, 2022. The retention of shares