Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 1517

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 9B
Chunk 1517
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 Account if less than $10.20 per Public Share due to reductions in the value of the trust assets, in each case net of
the interest which may be withdrawn to pay taxes. This liability will not apply with respect to any claims by a third party or prospective
target business who executed a waiver of any and all rights to seek access to the Trust Account, nor will it apply to any claims under
the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities
Act of 1933, as amended, (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable
against a third party, the Company’s Sponsor will not be responsible to the extent of any liability for such third party claims.

Merger
Agreement – Longevity (termination)

On
January 25, 2023, the Company entered into an Agreement and Plan of Merger (the “Longevity Merger Agreement”), by and among
Longevity Biomedical, Inc., a Delaware corporation (“Longevity”), Denali SPAC Holdco, Inc., a Delaware corporation and direct,
wholly owned subsidiary of the Company (“Holdco”), Denali SPAC Merger Sub, Inc., a Delaware corporation and direct, wholly
owned subsidiary of Holdco (“Denali Merger Sub”), Longevity Merger Sub, Inc., a Delaware corporation and direct, wholly owned
subsidiary of Holdco (“Longevity Merger Sub”), and Bradford A. Zakes, solely in the capacity as seller representative (the
“Seller Representative”).  

F-11

Denali
Capital Acquisition Corp.

Notes
to Consolidated Financial Statements

On
June 26, 2024, pursuant to Section 11.1(a) of the Longevity Merger Agreement, the parties entered into a termination agreement (the “Termination
Agreement”) pursuant to which the Longevity Merger Agreement was terminated effective as of the date of the Termination Agreement
(the “Termination”).

As
a result of the Termination Agreement, the Longevity Merger Agreement is of no further force and effect (other than certain customary
limited provisions that survive the termination pursuant to the terms of the Longevity Merger Agreement) and ancillary agreements entered
into in connection with the Longevity Merger Agreement also automatically terminated in accordance with their respective terms. As a
result of the termination of the Longevity Merger Agreement,