Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 61

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 61
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a) 10% of the shares of Semnur Common Stock (or such other securities into which or for which such stock may be exchanged or converted, including New Semnur Common Stock), held by Scilex as of immediately prior to the Scilex Effective Time (as defined below) (taking into account any adjustment for any stock dividend, stock split, reverse stock split or similar transaction) and (b) that number of shares of Semnur Common Stock (or such other securities into which or for which such stock may be exchanged or converted, including New Semnur Common Stock) equal to $200,000,000 divided by the closing price of such Semnur Common Stock (or such other securities into which or for which such stock may be exchanged or converted) on any national securities exchange on which such shares are listed on the date that is 10 trading days prior to the Determination Date (as defined below), which shares shall be paid from the shares of Semnur Common Stock (or such other securities into which or for which such stock may be exchanged or converted, including New Semnur Common Stock) held by Scilex as of immediately prior to the Effective Time (taking into account any adjustment for any stock dividend, stock split, reverse stock split or similar transaction). For purposes of the Scilex Certificate of Designation, (i) “Scilex Effective Time” means the effective time of the Business Combination as determined under the terms of the Merger Agreement, (ii) “Determination Date” means, if the Semnur Common Stock (or such other securities into which or for which such stock may be exchanged or converted, including New Semnur Common Stock) is listed for, and trading on, any national securities exchange, the date that is 15 trading days following the Registration Date, (iii) “Registration Date” means the earlier of (A) the Effective Time, at which time the shares of Semnur Common Stock (or such other securities into which or for which such stock has been exchanged or including New Semnur Common Stock) are registered under the Exchange Act and (B) the time at which the Registration Statement (as defined in the following clause (iv)) is declared effective by the SEC, and (iv) “Registration Statement” means a registration statement, whether under the Exchange Act or the Securities Act, that is filed by Semnur or any successor thereto or affiliate thereof with respect to the registration of the Semnur Common Stock