Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 338

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1B
Chunk 338
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 extend the time the Company has to consummate an initial business combination from January 11, 2025 to April 11, 2025.

On January 24, 2025, the Company and Sponsor agreed
that, in addition to the Initial Principal Amount under the Convertible Promissory Note 1, the Company may request an additional aggregate
amount of up to $591,800, which may be drawn down in one or more tranches at any time prior to the Maturity Date, raising the total limit
up to $2,000,000.

On March 27, 2025, the Company filed a definitive proxy to hold an
extraordinary general meeting of shareholders to consider and vote upon a proposal to amend, by way of special resolution, the amended
and restated memorandum and articles of association of the Company to extend the date by which the Company must either (i) consummate
a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination involving the Company and
one or more businesses or entities or (ii) cease its operations, except for the purpose of winding up, if it fails to complete such initial
business combination and redeem 100% of the Company’s Class A ordinary shares, included as part of the units sold in the Company’s
IPO that was consummated on April 11, 2022 from April 11, 2025 to December 11, 2025, by electing to extend the date to consummate an initial
business combination on a monthly basis for up to eight (8) times by an additional one month each time, unless the closing of the Company’s
initial business combination has occurred, without the need for any further approval of the Company’s shareholders, provided that
the Sponsor (or its affiliates or permitted designees or a third party) will deposit into the Trust Account for each such one-month extension
an extension fee, unless the closing of the Company’s initial business combination has occurred, in exchange for a non-interest
bearing promissory note payable upon consummation of an initial business combination.

F-29

EXHIBIT
INDEX

    Exhibit
     
    Description
  
    1.1
     
    Underwriting Agreement, dated April 6, 2022, among the Company, US Tiger Securities, Inc. and EF Hutton, division of Benchmark Investments, LLC, as representatives of the several underwriters named therein(2)