Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 640

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 640
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 term is defined in Denali’s organizational documents) or any proposal relating thereto (in each case,
other than as contemplated by the Merger Agreement); (iii) vote against (or otherwise withhold written consent of, as applicable) any
merger agreement or merger, consolidation, combination, sale of substantial assets, reorganization, recapitalization, dissolution, liquidation
or winding up of or by the Company (other than the Merger Agreement and the transactions contemplated thereby); (iv) vote against (or
otherwise withhold written consent of, as applicable) any change in the business, management or board of directors of the Company (other
than in connection with the Merger Agreement and the transactions contemplated thereby); and (v) vote against (or otherwise withhold
written consent of, as applicable) any proposal, action or agreement that would (a) impede, frustrate, prevent or nullify any provision
of the Sponsor Support Agreement or the Merger Agreement 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 Sem