Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 746

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 4
Chunk 746
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 to certain transfer restrictions, as described in more detail below, (iii) the Company’s initial shareholders have
entered into an agreement with the Company, pursuant to which they have agreed to (A) waive their redemption rights with respect to
their founder shares and Public Shares in connection with the completion of the Company’s initial Business Combination, (B)
waive their redemption rights with respect to their founder shares and Public Shares in connection with a shareholder vote to
approve an amendment to the Company’s amended and restated memorandum and articles of association that would affect the
substance or timing of the Company’s obligation to provide for the redemption of the Company’s Public Shares in
connection with an initial Business Combination or to redeem 100% of the Company’s Public Shares if the Company has not
consummated an initial Business Combination by April 11, 2025 (or as may be extended by a shareholder vote to further extend the
time to consummate a business combination, as applicable), and (C) waive their rights to liquidating distributions from the Trust
Account with respect to their founder shares if the Company fails to complete its initial Business Combination by April 11, 2025 (or
as may be extended by a shareholder vote to further extend the time to consummate a business combination, as applicable), although
they will be entitled to liquidating distributions from the Trust Account with respect to any Public Shares they hold if the Company
fails to complete its initial Business Combination within the prescribed time frame, (iv) the founder shares will automatically
convert into Public Shares concurrently with or immediately following the consummation of the Company’s initial Business
Combination, or earlier at the option of the holder thereof, and (v) the founder shares are entitled to registration rights. If the
Company submits its initial Business Combination to its Public Shareholders for a vote, the Sponsor and each member of the
Company’s management team have agreed to vote their Founder Shares and Public Shares in favor of the Company’s initial
Business Combination. During an extraordinary general meeting held on October 11, 2023, a proposal was approved that Class A
ordinary shares will be issued to holders of Class B ordinary shares upon the exercise of the right of a holder of the
Company’s Class B ordinary shares, par value $0.0001 per share, to convert such holder’s Class B ordinary shares
into Class A ordinary shares on a one-for-one basis at any time and from time to time prior to the closing of an initial