Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 857

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 857
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 to its securities that is prohibited by the terms of this Agreement.

4.2 . Subject to Parent’s receipt of the Option Exchange Approval, as of
the Effective Time, each Company Option that is then outstanding shall be converted into the right to receive an option relating to Domesticated Parent Common Shares upon substantially the same terms and conditions as are in effect with respect to
such option immediately prior to the Effective Time, including with respect to vesting and termination-related provisions (each, a “”) except that (i) such Domesticated Parent Option shall relate to
that whole number of Domesticated Parent Common Shares (rounded down to the nearest whole share) equal to the number of Company Common Shares subject to such Company Option, multiplied by the Exchange Ratio, and (ii) the
exercise price per share for each such Domesticated Parent Common Shares shall be equal to the exercise price per share of such Company Option in effect immediately prior to the Effective Time, divided by the Exchange Ratio (the
exercise price per share, as so determined, being rounded up to the nearest full cent); , , that the conversion of the Company Options will be made in a manner consistent with Treasury Regulation
Section 1.424-1, such that such conversion will not constitute a “modification” of such Company Options for purposes of Section 409A or Section 424 of the Code.

4.3 .

(a) . At or after the Effective Time, as soon as reasonably practicable after the sole Stockholder surrenders
to Parent the certificates evidencing such Stockholder’s Company Common Shares to the extent certificated (collectively, for purposes of this , the “”) for cancellation, together with
a completed and executed Letter of Transmittal substantially in the form agreed to between Parent and the Company (the “”): (i) Parent shall cause to be issued to such Stockholder the Applicable Per Share
Merger Consideration such Stockholder has the right to receive in connection with the Merger pursuant to and (ii) the Share Certificate, if any, so surrendered shall forthwith be cancelled. If a transfer of ownership of
a Stockholder’s Share Certificate that is not registered in the transfer records of the Company is stated to have occurred, then payment of the relevant portion of the Applicable Per Share Merger Consideration may be made to a Person other
than the Person in whose name the Share Certificate so surrendered is registered if the Share Certificate representing such shares is properly endorsed or otherwise is in proper form for transfer. If any