Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 128

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 128
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 shares of New Semnur Series A Preferred Stock and a maximum of 600,000 shares of New Semnur Common Stock. The foregoing does not take into account the Scilex Dividend described elsewhere in this proxy statement/prospectus. For additional information regarding the Scilex Dividend, see the section titled “Questions and |

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| Answers About the Business Combination and the Meeting — Questions and Answers About the Business Combination — What is the impact of Scilex’s previously announced dividend of its ownership interest in Semnur on Denali’s shareholders?” |

| (6) | Represents the number of shares of New Semnur Series A Preferred Stock issued under the Debt Exchange Agreement (as described in the preceding footnote (5)). The New Semnur Series A Preferred Stock will be issued only to Scilex (as the sole holder of Semnur Preferred Stock) in connection with the closing of the Business Combination and is not convertible into shares of New Semnur Common Stock. Accordingly, the ownership percentage is shown for illustrative purposes only, as a number of the rights, preferences and privileges of the New Semnur Series A Preferred Stock are determined based on an as converted to common stock basis. |

| (7) | Represents the aggregate number of Consultant Shares to be issued pursuant to the Consulting Services Agreements immediately following the completion of the Business Combination. |

| (8) | Represents the aggregate number of shares of New Semnur Common Stock expected to be issued upon conversion of the Denali Promissory Notes (if converted) (other than the convertible promissory note dated August 9, 2024, by and between Denali and Scilex in the total principal amount of $180,000, which bears no interest and may be converted in whole or in part into additional Denali Class A Ordinary Shares at a conversion price of $10.00 per ordinary share, which is included in footnote (5) above), including interest (as and if applicable) through September 30, 2025. |

| (9) | Represents the aggregate number of shares of New Semnur Common Stock expected to be issued to the Denali Underwriters pursuant to a letter agreement to be entered into between Denali and the Denali Underwriters. |

| (10) | The total number of shares at the Closing under each redemption scenario excludes the potential dilutive effect of the following securities because it is unknown whether such securities will ever be exercised for shares of New Semnur Common Stock