Company: SMNR
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001013762-25-003461
Chunk: 18

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 18
---
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 •   if we do not consummate an initial business combination by the Extended Date, we will: (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to the Company (less taxes payable and up to US$100,000 of interest to pay dissolution expenses), divided by the number of then issued and outstanding public shares, which                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |

6

| redemption will completely extinguish public members’ rights as members (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining members and the directors of the Company, liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable law.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| If the Extension Amendment Proposal is approved, our Sponsor or its designees or a third party will have the option to loan to us up to a maximum of $120,293.92 for a total of eight (8) one-month extensions until December 11, 2025 (the “Extension Loan”), unless the closing of the Company’s initial business combination shall have occurred, which amount will be deposited into the trust account. The Extension Loan is conditioned upon the implementation of the Extension Amendment Proposal. The Extension Loan will not occur if the Extension Amendment Proposal is not approved, or the extension is not completed. The Extension Loan will bear no interest and will be repayable upon consummation of an initial business combination. If our Sponsor or its designees or applicable third party advises us that it does not intend to make the Extension Loan, then at the extraordinary general meeting we will propose an indefinite adjournment and, if approved, the Extension Amendment Proposal and the Adjournment Proposal will not be put before the shareholders at the extraordinary general meeting and, unless the Company can complete an initial business combination by the Termination Date, we will liquidate and dissolve in accordance with our articles of association. |

| % of Redemptions 
 at Extension     |     | Shares Redeemed 
    at Extension |     | Shares Remaining 
     at Extension |     |