Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 60

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 60
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 the Merger Agreement, (ii) “Determination Date” means, if the Semnur Common Stock (or such other securities into which or for which such stock may be exchanged or converted, including New Semnur Common Stock) is listed for, and trading on, any national securities exchange, the date that is 15 trading days following the Registration Date, (iii) “Registration Date” means the earlier of (A) the Effective Time, at which time the shares of Semnur Common Stock (or such other securities into which or for which such stock has been exchanged or including New Semnur Common Stock) are registered under the Exchange Act and (B) the time at which the Registration Statement (as defined in the following clause (iv)) is declared effective by the SEC, and (iv) “Registration Statement” means a registration statement, whether under the Exchange Act or the Securities Act, that is filed by Semnur or any successor thereto or affiliate thereof with respect to the registration of the Semnur Common Stock (or any securities into which or for which such stock may be exchanged or including New Semnur Common Stock). Because the Scilex Dividend will be paid from the shares of Semnur Common Stock (or such other securities into which or for which such stock may be exchanged or converted, including New Semnur Common Stock) and will not be in the form of newly issued shares of New Semnur Common Stock, only the ownership percentage of Scilex following the Business Combination will be impacted by the Scilex Dividend if such dividend is actually paid. If Scilex completes the Scilex Dividend and the Scilex Series 1 Preferred Stock is exchanged for New Semnur Common Stock pursuant to the terms of the Scilex 17

Certificate of Designation governing the Scilex Series 1 Preferred Stock, then following the closing of the Business Combination, Scilex, as the controlling stockholder of Semnur prior to such closing, (i) in the no redemptions scenario will own approximately (a) 83.2% of New Semnur in the form of New Semnur Common Stock and (b) 2.8% of New Semnur in the form of New Semnur Series A Preferred Stock, which will give Scilex 86.0% of the voting power of New Semnur’s capital stock and (b) in the maximum redemptions scenario, will own approximately