Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 672

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 672
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 connection with the closing of the Business Combination, Denali will file the New Semnur Certificate of Designations, designating a number of shares of “Series A Preferred Stock” of New Semnur, which number shall not exceed 6,000,000 shares and shall be issued to holders of Semnur Preferred Stock pursuant to the terms of the Merger Agreement and such shares shall have all of the rights, preferences and privileges set forth in the New Semnur Certificate of Designations as more fully described below.

Rank

The New Semnur Series A Preferred Stock shall rank (i) senior to all New Semnur Common Stock, and to all other classes or series of capital stock of New Semnur, except for any such other class or series, the terms of which expressly provide that it ranks on parity with the New Semnur Series A Preferred Stock as to dividend rights and rights on liquidation, dissolution or winding-up of New Semnur (“Junior Securities”); and (ii) on parity with each class or series of capital stock of New Semnur, created specifically ranking by its terms on parity with the New Semnur Series A Preferred Stock as to dividend rights and rights on liquidation, dissolution or winding-up of New Semnur (“Parity Securities”).**

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**Dividend Rights

Holders of New Semnur Series A Preferred Stock shall not be entitled to dividends unless New Semnur pays dividends to holders of New Semnur Common Stock and shall be entitled to receive, when, as and if declared by the New Semnur Board, such dividends (whether in cash or other property) as are paid to holders of New Semnur Common Stock to the same extent as if such holders of New Semnur Series A Preferred Stock had been deemed to convert their shares of New Semnur Series A Preferred Stock into New Semnur Common Stock and had held such shares of New Semnur Common Stock on the record date for such dividends and distributions. Such payments will be made concurrently with the dividend or distribution to the holders of the New Semnur Common Stock.

Liquidation Preference

In the event of a change of control, liquidation, dissolution or winding-up of New Semnur, whether voluntary or involuntary, before any payment or distribution of New Semnur’s property or assets (whether capital or surplus) shall be made to or set apart for the holders of Junior Securities, the holders of New Semnur