Company: SMNR
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001213900-25-044889
Chunk: 84

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 2
Chunk 84
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50.0 million for a minimum of ten consecutive business days during the 180-day compliance period ending on March 31, 2025.The Notice
further stated that in the event the Company did not regain compliance with the Listing Rules prior to the expiration of the compliance
period, it will receive written notification that its securities are subject to delisting. At that time, the Company will have the opportunity
to appeal the decision to a Nasdaq Hearing Panel.

On April 2, 2025, the Company received a written letter from the staff
at Nasdaq stating that the Company had not regained compliance with the Listing Rules, and also that the Company was not in compliance
with the Public Float Rule, which requires the Company to maintain a minimum of 1,100,000 publicly held shares for continued listing.
Consequently, the Staff determined that the Company’s securities would be delisted from The Nasdaq Global Markets unless the Company
requested an appeal of this determination by April 9, 2025. The Company did not appeal the Staff’s delisting determination, and
the Company’s Class A Ordinary Shares, warrants, and units were delisted at the opening of business on April 16, 2025. Trading of
the Company’s securities on the OTC markets commenced on April 17, 2025.

On January 25, 2023, we entered
into the Longevity Merger Agreement, by and among Longevity, Holdco, Denali Merger Sub, Longevity Merger Sub, and the Seller Representative. 

On March 29, 2023, Holdco
filed a Form S-4 with the SEC to register shares of its common stock that will be issued in connection with the business combination contemplated
by the Longevity Merger Agreement, as amended by Amendments Nos. 1, 2, 3, 4, 5 and 6 thereto, filed with the SEC on May 31, 2023, July
13, 2023, September 1, 2023, October 20, 2023, November 21, 2023 and December 6, 2023 respectively. On December 14, 2023, HoldCo filed
a notice of effectiveness. On January 9, 2024, our shareholders held a Business Combination Meeting and voted in favor of approving the
Longevity Business Combination. 

On June 26, 2024, pursuant
to Section