Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 691

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 691
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 the related person transaction to New Semnur’s audit committee, or, if audit committee approval would be inappropriate, to another independent body of the New Semnur Board, for review, consideration and approval or ratification. The presentation must include a description of, among other things, the material facts, the interests, direct and indirect, of the related persons, the benefits to New Semnur of the transaction and whether the transaction is on terms that are comparable to the terms available to or from, as the case may be, an unrelated third party or to or from employees generally. Under the policy, New Semnur will collect information that New Semnur deems reasonably necessary from each director, executive officer and, to the extent feasible, significant stockholder to enable New Semnur to identify any existing or potential related-person transactions and to effectuate the terms of the policy. In addition, under New Semnur’s code of conduct and ethics that New Semnur expects to adopt prior to the closing of this Business Combination, New Semnur’s employees and directors will have an affirmative responsibility to disclose any transaction or relationship that reasonably could be expected to give rise to a conflict of interest. In considering related person transactions, New Semnur’s audit committee, or other independent body of the New Semnur Board, will take into account the relevant available facts and circumstances including, but not limited to:

| • |     | the risks, costs and benefits to New Semnur; |

| • |     | the impact on a director’s independence in the event that the related person is a director, immediate 
 family member of a director or an entity with which a director is affiliated;                         |

| • |     | the availability of other sources for comparable services or products; and |

| • |     | the terms available to or from, as the case may be, unrelated third parties or to or from employees generally. |

The policy requires that, in determining whether to approve, ratify or reject a related person transaction, New Semnur’s audit committee, or other independent body of the New Semnur Board, must consider, in light of known circumstances, whether the transaction is in, or is not inconsistent with, New Semnur’s best interests and those of New Semnur’s stockholders, as New Semnur’s audit committee, or other independent body of the New Semnur Board, determines in the good faith exercise of its discretion. 451

LEGAL MATTERS

The validity