Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 648

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 648
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 franchise and income taxes, if any, divided by the number of the then-issued and outstanding public shares, upon the completion of our initial business combination, subject to the limitations described herein.

Founder Shares

The founder shares are designated as Denali Class B Ordinary Shares and, except as described below, are identical to the Denali Class A Ordinary Shares included in the Public Units sold in the IPO, and holders of founder shares have the same shareholder rights as public shareholders, except that: (a) the Denali Class B Ordinary Shares will automatically convert into Denali Class A Ordinary Shares at the time of our initial business combination, (b) the founder shares are subject to certain transfer restrictions; (c) prior to our initial business combination, only holders of Denali Class B Ordinary Shares have the right to vote on the appointment of directors and only holders of a majority of the Denali Class B Ordinary Shares may remove a member of the board of directors for any reason; (d) in a vote to continue the Company in a jurisdiction outside the Cayman Islands (which requires the approval of at least two-thirds of the votes of all ordinary shares voted at a general meeting), holders of our founder shares have ten votes for every founder share and, as a result, our initial shareholders will be able to approve any such proposal without the vote of any other shareholder; (e) the Sponsor and each member of our management team have entered into an agreement with us, pursuant to which they have agreed to waive their redemption rights with respect to any founder shares and public shares held by them in connection with (i) the completion of our initial business combination and (ii) a shareholder vote to approve an amendment to our amended and restated memorandum and articles of association (A) that would modify the substance or timing of our obligation to provide holders of Denali Class A Ordinary Shares the right to have their shares redeemed in connection with our initial business combination or to redeem 100% of our public shares if we do not complete our initial business combination by December 11, 2025 (or as may be extended by the Shareholder Extension Period, as applicable) or (B) with respect to any other provision relating to the rights of holders of Denali Class A Ordinary Shares. Additionally, the Sponsor has agreed to waive its rights to liquidating distributions from the trust account with respect to its founder shares if we fail to complete our initial business combination within the prescribed time frame; and (f) the founder shares are entitled to registration rights. Except as described herein,