Company: SMNR
Filing Date: 2025-03-25
Form Type: PRER14A
Source: 0001013762-25-002297
Chunk: 18

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-03-25
Form: PRER14A
Chunk 18
---
 ]             |
| 85%              |     | [        ]      |     | [        ]       |     | [        ]             |

| No Extension Payment will occur if the Extension Amendment Proposal is not approved. The Extension Payment does not bear interest and will be repayable by the Company to the Sponsor (or its affiliates or permitted designees or a third party, as applicable) upon consummation of an initial business combination. If the Company decides to not utilize the Extension Amendment, then the Company will liquidate and dissolve promptly in accordance with the amended and restated memorandum and articles of association of the Company, and the Sponsor’s obligation to make additional contributions will terminate. |
| If we determine prior to the time of the extraordinary general meeting that it is not appropriate to submit the Extension Amendment Proposal to the extraordinary general meeting, then the extraordinary general meeting may be adjourned indefinitely, in which case we will liquidate and dissolve in accordance with the amended and restated memorandum and articles of association of the Company if we do not complete an initial business combination by the Termination Date.                                                                                                                                       |

7

| What happens to the Company’s warrants if the Extension Amendment Proposal is not approved?             |     | If the Extension Amendment Proposal is not approved and we have not consummated an initial business combination by the Termination Date, we will: (i) cease all operations except for the purpose of winding up; (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the public shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest earned on the funds held in the trust account and not previously released to the Company (less taxes payable and up to US$100,000 of interest to pay dissolution expenses), divided by the number of then issued and outstanding public shares, which redemption will completely extinguish public members’ rights as members (including the right to receive further liquidation distributions, if any); and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the remaining members and the directors of the Company, liquidate and dissolve, subject in each case to the Company’s obligations under Cayman Islands law to provide for claims of creditors and other requirements of applicable law. There will be no distribution from the trust account with respect to our warrants, which will expire worthless in the event of our winding up.                                                                                                                                                |
| What happens to the Company’s warrants if the Extension Amendment Proposal