Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 735

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 735
---
 initial business combination has occurred, without the need for any further approval of the Company’s shareholders, provided that the Sponsor (or its affiliates or permitted designees) will deposit into the Trust Account for each such one-monthextension the lesser of (a) an aggregate of $ 20,000or (b) $ 0.02per public share that remains outstanding and is not redeemed prior to any such one-monthextension, unless the closing of the Company’s initial business combination has occurred, in exchange for a non-interestbearing promissory note payable upon consummation of an initial business combination. In connection with the extraordinary general meeting on July 10, 2024, shareholders holding 3,785,992public shares exercised their right to redeem such shares for a pro rata portion of the funds in the Company’s Trust Account. As a result, approximately $ 43.4million (approximately $ 11.47per share) was removed from the Trust Account to pay such holders. Following redemptions, the Company had 751,837public shares outstanding. On July 10, 2024, Company issued a convertible promissory note (the “Convertible Promissory Note 2”) in the total principal amount of up to $ 180,000to Sponsor. The Convertible Promissory Note 2 was issued with an initial principal balance of $ 15,037, with the remaining $ 164,963drawable at the Company’s request and upon the consent of the Sponsor prior to the maturity of the Convertible Promissory Note 2. The Convertible Promissory Note 2 matures upon the earlier of (i) the effective date of the consummation of the Company’s initial business combination and (ii) the date of the liquidation of the Company. F-11

On August 9, 2024, the Company issued a convertible promissory note in the total principal amount of up to $ 180,000to Scilex (the “Extension Scilex Convertible Promissory Note”). The Extension Scilex Convertible Promissory Note was issued with an initial principal balance of $ 15,064, with the remaining $ 164,936drawable at the Company’s request and upon the consent of Scilex prior to the maturity of the Extension Scilex Convertible Promissory Note. The Extension Scilex Convertible Promissory Note matures upon the earlier of (i) the effective date of the consummation of the