Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 417

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 417
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 of New Semnur Common Stock are needed to complete the Business Combination, comprised of:

| • |     | 200,000,000 shares of New Semnur Common Stock to be issued as Merger Consideration and beneficially held by Scilex (as the controlling stockholder of Semnur); |

| • |     | up to a maximum of 600,000 shares of New Semnur Common Stock to be issued to Scilex as the sole holder of Semnur Series A Preferred Stock as Preferred Consideration; |

| • |     | up to a maximum of 6,000,000 shares of New Semnur Series A Preferred stock to be issued to Scilex as the sole holder of Semnur Series A Preferred Stock as Preferred Consideration; |

| • |     | assuming approval of the Option Exchange Proposal, up to a maximum of 50,000,000 shares of New Semnur Common Stock that will be issuable upon exercise of options to purchase shares of New Semnur Common Stock; |

| • |     | 2,799,715 shares of New Semnur Common Stock to be issued in exchange for the same number of Denali Ordinary Shares; |

| • |     | 524,622 shares of New Semnur Common Stock to be issued upon the automatic separation of Units into their component parts; |

| • |     | 323,161 shares of New Semnur Common Stock, to be issued upon conversion (if converted) of the Denali Convertible Promissory Notes (taking into account accrued interest through September 30, 2025), of which Scilex will hold 18,000 shares; |

| • |     | 86,625 shares of New Semnur Common Stock expected to be issued to the Denali Underwriters pursuant to a deferred discount agreement to be entered into; |

| • |     | the 24,400,000 shares of Semnur Common Stock issued pursuant to the Consulting Services Agreements are converted into an aggregate of 30,500,000 shares of New Semnur Common Stock in connection with the Business Combination pursuant to the terms of the Merger Agreement; and |

| • |     | 8,760,000 shares of New Semnur Common Stock issuable upon exercise of the New Semnur Warrants. |

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The Denali Board believes that it is important for New Semnur to have available for issuance a number of authorized