Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 304

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 304
---
 negatively (excluding abstentions) at the meeting by the holders entitled to vote thereon, except that Semnur’s directors are elected by a plurality of the votes cast.

Right to Receive Liquidation Distributions

In the event of a change of control, liquidation, dissolution or winding up of Semnur, the holders of Common Stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of Preferred Stock, if any, then outstanding.

No Preemptive or Similar Rights

The Common Stock have no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the Common Stock.**

<div align='center'>198</div>

**Fully Paid and Non-Assessable

The outstanding Denali Ordinary Shares and shares of Common Stock that were issued in the Business Combination are fully paid and non-assessable.

Preferred Stock

The Charter authorizes the Board, subject to limitations prescribed by Delaware law, to issue up to 45,000,000 shares of preferred stock in one or more series, to determine and fix from time to time the number of shares to be included in each such series and to fix the designations, powers, rights and preferences of the shares of each such series, and the qualifications, limitations and restrictions thereof, including voting rights (if any), dividend rights, dissolution rights, conversion rights, exchange rights and redemption rights, in each case without further vote or action by Semnur’s stockholders. The number of authorized shares of Common Stock and Preferred Stock may be increased or decreased (but not below the number of the shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of the outstanding stock of Semnur entitled to vote thereon.

The Board may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of Common Stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control and may adversely affect the market price of Common Stock and the voting and other rights of the holders of Common Stock. Other than the Series A Preferred Stock issued to Scilex, there is no other Preferred Stock outstanding and Semnur has no current plans to issue any other shares of Preferred Stock.

Series A Preferred Stock Number and Designation

We filed the Certificate of Designations, design