Overview
- Semnur and Denali closed their business combination on September 22, with the combined company operating as Semnur Pharmaceuticals.
- Shares and warrants are expected to trade on the OTC Markets under SMNR and SMNRW starting September 23.
- Scilex and its affiliates hold approximately 87.5% of Semnur’s common stock following the transaction.
- Semnur entered a Securities Purchase Agreement for a private, unregistered sale of $100 million in common stock in exchange for $100 million in Bitcoin, totaling 6,250,000 shares at $16.00 per share, subject to customary closing conditions.
- Semnur engaged Biconomy.com for crypto treasury strategy, and on September 24 Scilex signed a non-binding MOU with Biconomy to explore cryptocurrency trading services and treasury management.