Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 580

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 580
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Item
3. Legal Proceedings.

To
the knowledge of our management, there is no material litigation, arbitration or governmental proceeding currently pending against us,
any of our officers or directors in their capacity as such, any of our property.

Item
4. Mine Safety Disclosures.

Not
applicable.

10

PART
II

Item
5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.

Market
Information

Our
units, Class A ordinary shares and warrants are each traded on The Nasdaq Stock Market LLC under the symbols “DECAU,” “DECA”
and “DECAW,” respectively. Our units commenced public trading on April 7, 2022, and our Class A ordinary shares and warrants
commenced separate public trading on May 31, 2022.

Holders

On
December 31, 2024, there were two holders of record of our units, one holder of record of our Class A ordinary shares, one holder of
record of our warrants, and seven holders of record of our Class B ordinary shares.

Dividends

We
have never declared or paid any dividends on our ordinary shares. We do not anticipate paying cash dividends in the foreseeable future.

Securities
Authorized for Issuance Under Equity Compensation Plans

None.

Recent
Sales of Unregistered Securities

In
February 2022, we issued an aggregate of 2,156,250 founder shares to our sponsor in exchange for a payment of $25,000 from our sponsor
to cover for certain expenses on behalf of us, or approximately $0.012 per share. The sponsor later transferred 20,000 founder shares
to our Chief Financial Officer and 110,000 founder shares to certain members of our board of directors and forfeited 93,750 founder shares
pursuant to the underwriters partially exercising their over-allotment option. The sale of the founder shares was made pursuant to an
exemption from registration contained in Section 4(a)(2) of the Securities Act.

As
described above under the heading “Business - General” in Part I of this report, on April 11, 2022, we consummated the Private
Placement, with our sponsor and the underwriters, of an aggregate of 510,000 Private Placement Units (including over-allotment of 30,000
units) at a purchase price of $10.00 per Private Placement Unit, to the sponsor