Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 611

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 611
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 consummation of the Business Combination, New Semnur expects to enter into indemnification agreements with each of its directors and executive
officers as determined by the New Semnur Board. These agreements, among other things, will require New Semnur to indemnify its directors and executive officers against liabilities that may arise by reason of their status or service. These
indemnification agreements will also require New Semnur to advance all expenses actually and reasonably incurred by the directors and executive officers in connection with any proceeding. New Semnur believes that these agreements are necessary to
attract and retain qualified individuals to serve as directors and executive officers. New Semnur will also maintain directors’ and officers’ liability insurance.

The above description of the indemnification provisions of the Proposed Charter, the Proposed Bylaws and the indemnification agreements is not complete and is
qualified in its entirety by reference to these documents, each of which is filed as an exhibit to the registration statement of which this proxy statement/prospectus is a part.

Certain of New Semnur’s non-employee directors may, through their relationships with their employers, be insured
or indemnified against certain liabilities incurred in their capacity as members of the New Semnur Board.

The limitation of liability and indemnification
provisions in the Proposed Charter and the Proposed Bylaws may discourage stockholders from bringing a lawsuit against New Semnur’s directors and officers for breach of their fiduciary duty. They may also reduce the likelihood of derivative
litigation against New Semnur’s directors and officers, even though an action, if successful, might benefit New Semnur and its stockholders. In addition, a stockholder’s investment may be adversely affected to the extent New Semnur pay
the costs of settlement and damage awards against directors and officers pursuant to these indemnification provisions. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors or executive officers,
New Semnur has been informed that in the opinion of the SEC, such indemnification is against public policy and is therefore unenforceable.

At present,
there is no pending litigation or proceeding involving any of Semnur’s or New Semnur’s directors or executive officers as to which indemnification is required or permitted, and Semnur and New Semnur are not aware of any threatened
litigation or proceeding that may result in a claim for indemnification.

386

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT