Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 710

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 710
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 appointed to the New Semnur Board as more fully described in the Stockholder Agreement. Scilex will also have the right to designate a replacement director for any Stockholder Designee that has been removed from the New Semnur Board and the right to appoint a representative of Scilex to attend all meetings of the committees of the New Semnur Board.

The Stockholder Agreement also provides that following the Closing, New Semnur shall not, and shall cause its subsidiaries not to, among others, without the prior written consent of Scilex: (i) amend, alter, modify or repeal (whether by merger, consolidation, by operation of law or otherwise) any provisions of the Proposal Charter (including the New Semnur Certificate of Designations) or the Proposed Bylaws that increase or decrease the authorized number of directors constituting the New Semnur Board; (ii) take any action that would have the effect of increasing or decreasing the number of directors constituting the New Semnur Board; (iii) amend, alter, modify or repeal (whether by merger, consolidation, reclassification, by operation of law or otherwise) any provisions of the respective charters (and any related organizational documents) of any of the committees of the New Semnur Board; (iv) file any voluntary petition under any applicable federal or state bankruptcy or insolvency law on behalf of New Semnur or any of its subsidiaries; (v) (A) incur or permit any of New Semnur’s subsidiaries to incur any indebtedness in an aggregate principal amount in excess of $10,000,000) (with “principal amount” for purposes of this definition to include undrawn committed or available amounts) or (B) enter into, modify, amend or renew (or permit any of its subsidiaries to enter into, modify, amend or renew)**

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**any contract or other agreement in respect of indebtedness in an aggregate principal amount in excess of $10,000,000 (with “principal amount” for purposes of this definition to include undrawn committed or available amounts); (vi) consummate or otherwise enter into any other contract or agreement to effect any change of control, joint venture or corporate reorganization by New Semnur or any of its subsidiaries; (vii) declare or pay any dividend or distribution on New Semnur Common Stock, other Junior Security (as defined below) or Parity Security (as defined below); or (viii) purchase