Semnur completes de-SPAC merger with Denali; trades under SMNR on OTCQB

Semnur Pharmaceuticals, Inc.

Business combination closed Sept 22, 2025; Legacy Semnur becomes wholly owned subsidiary of New Semnur.
Exchange ratio of 1.25; SHC contributed $54.2M intercompany debt for 5.4M shares of Legacy Semnur preferred.
Entered Securities Purchase Agreement with Biconomy PTE.LTD for 6.25M shares at $16/share payable in Bitcoin.
Settled underwriter deferred discount and sponsor/futuretech debts with cash, shares, and promissory notes.
Trading symbols changed to SMNR (common) and SMNRW (warrants) on OTCQB.

item 1.01item 2.01item 9.01item 5.02item 3.02item 4.01item 2.03item 3.03item 8.01item 5.01item 5.03item 5.05item 5.06item 7.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.