secwatch.observer — SEC 8-K summary
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Issuer:     Semnur Pharmaceuticals, Inc. (SMNR)
CIK:        0001913577
Form:       8-K
Filed at:   2025-09-26T23:59:59+00:00
Accession:  0001193125-25-220455
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 2.01, 9.01, 5.02, 3.02, 4.01, 2.03, 3.03, 8.01, 5.01, 5.03, 5.05, 5.06, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1913577/000119312525220455/0001193125-25-220455-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1913577/000119312525220455/d68253d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-220455

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer