Company: SMNR
Filing Date: 2025-08-15
Form Type: 10-Q
Source: 0001213900-25-077047
Chunk: 18

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-15
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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or any of the transactions contemplated thereby, (b) result in a breach in any respect of any covenant, representation, warranty or any
other obligation or agreement of Denali or Merger Sub under the Merger Agreement, (c) result in any of the conditions set forth in Article
VIII of the Merger Agreement not being fulfilled or (d) change in any manner the dividend policy or capitalization of, including the voting
rights of any class of capital stock of, the Company. Under the terms of the Sponsor Support Agreement, the Sponsor also agreed to certain
standstill provisions with respect to the ordinary shares and other equity securities of the Company held by the Sponsor.

Stockholder Support Agreement

Concurrently with the execution of the Merger
Agreement, the Company, Semnur and Scilex (as the sole stockholder of Semnur) entered into a company stockholder support agreement (the
“Stockholder Support Agreement”), pursuant to which Scilex agreed to, among other things: (i) appear at any meeting of Semnur’s
stockholders related to the transactions contemplated by the Merger Agreement, or otherwise cause its shares of Semnur common stock to
be counted as present thereat for the purpose of establishing a quorum; (ii) vote (or execute and return an action by written consent),
or cause to be voted at any such meeting of Semnur’s stockholders (or validly execute and return and cause such consent to be granted
with respect to), all of its shares of Semnur common stock in favor of the Merger Agreement and the Business Combination; (iii) authorize
and approve any amendment to Semnur’s certificate of incorporation or bylaws that is deemed necessary or advisable by Semnur for
purposes of effecting the Business Combination; and (iv) vote (or execute and return an action by written consent), or cause to be voted
at any such meeting of Semnur’s stockholders (or validly execute and return and cause such consent to be granted with respect to),
all of its shares of Semnur common stock against any other action that would reasonably be expected to (a) impede, interfere with, frustrate,
delay, postpone or adversely affect the Business Combination, (b) result in a breach of any covenant, representation or warranty or other
obligation or agreement of Semnur under the Merger Agreement or (c) result in a breach of any covenant, representation or