Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 477

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 477
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 the Merger Agreement. Amendment to Increase Authorized Shares On July 23, 2025, the Company’s board of directors approved an amendment to the Company’s Amended and Restated Certificate of Incorporation to increase the authorized number of shares of all classes of Company’s stock to 785,000,00shares, consisting of (i) 740,000,000shares of common stock, par value $ 0.00001per share, and (ii) 45,000,000shares of preferred stock, par value $ 0.00001per share. PIPE Securities Purchase Agreement On August 20, 2025, the Company and Denali entered into a securities purchase agreement (the “PIPE SPA”) with the investor named therein (the “PIPE Investor”), pursuant to which the investor agreed to purchase 1,250,000shares of New Semnur Common Stock at a price of $ 16.00per share, for an aggregate purchase price of $ 20.0million following the consummation of the Business Combination. On September 22, 2025, the SPA was amended to provide that unless such agreement was terminated pursuant to its terms (or otherwise by mutual agreement of the parties thereto), the closing of the transactions contemplated thereby would occur not later than the 14th business day following the closing of the Business Combination, subject to the satisfaction or waiver of the closing conditions set forth therein. Consummation of Business Combination On September 22, 2025, Denali consummated the Business Combination pursuant to the terms of the Merger Agreement with the Company and Merger Sub (the “Closing”). Pursuant to the Merger Agreement, Denali acquired all of the issued and outstanding equity interests of Legacy Semnur. At the Closing, (i) each outstanding share of Semnur Common Stock as of immediately prior to the Effective Time (other than shares held by Semnur or its subsidiaries or shares the holders of which exercise dissenters’ rights of appraisal) automatically converted into the right to receive a number of shares of New Semnur Common Stock equal to the Exchange Ratio (as defined in the Merger Agreement), (ii) each outstanding share of Legacy Semnur Preferred Stock as of immediately prior to the Effective Time automatically converted into the right to receive (a) one share of New Semnur Series A Preferred Stock and (b) one-tenth of one share of New Semnur Common Stock, and (iii) each option to purchase Legacy Sem