Company: SMNR
Filing Date: 2025-08-22
Form Type: DEFA14A
Source: 0001213900-25-079507
Chunk: 2

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-22
Form: DEFA14A
Chunk 2
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 “Purchase Agreement”) with Semnur Pharmaceuticals, Inc., a Delaware corporation (“Semnur”), and the purchaser party thereto (the “Purchaser”). There are no material relationships between the Company or its affiliates and the Purchaser, other than in respect of the Purchase Agreement.

Pursuant to the Purchase Agreement, the Purchaser has agreed to purchase an aggregate of 1,250,000 shares of common stock, par value $0.0001 per share (the “PIPE Shares”), of the combined company (“New Semnur”) following the consummation of the transactions (the “Business Combination”) contemplated by the Agreement and Plan of Merger, dated August 30, 2024, as amended on April 16, 2025, and July 22, 2025 (the “Merger Agreement”), by and among the Company, Semnur, and Denali Merger Sub Inc. The purchase price for the PIPE Shares is $16.00 per share, for an aggregate purchase price of $20,000,000 (the “PIPE Financing”).

The closing of the PIPE Financing is subject to customary conditions and is expected to occur immediately following the consummation of the Business Combination.

The Purchase Agreement also provides that, no earlier than the closing of the PIPE Financing and no later than 20 business days following the closing of the Business Combination, Semnur will cause to be deposited into an escrow account an aggregate of 12,000,000 shares of New Semnur common stock beneficially owned by its parent company, Scilex Holding Company, pursuant to the terms of a Securities Escrow Agreement to be entered into by Semnur, the Purchaser and an escrow agent.

The Purchase Agreement contains customary representations, warranties, and covenants of the parties thereto. The Purchase Agreement may be terminated under certain circumstances, including if the closing of the PIPE Financing has not occurred on or before December 31, 2025.

The foregoing description of the Purchase Agreement is not complete and is qualified in its entirety by reference to the full text of the Purchase Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 3.02 Unregistered Sales of Equity Securities.

The information regarding the Purchase Agreement and the PIPE Financing set forth in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 3.02.

The