Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 1343

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 9
Chunk 1343
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the “Longevity Merger Agreement”), by and among
Longevity Biomedical, Inc., a Delaware corporation (“Longevity”), Denali SPAC Holdco, Inc., a Delaware corporation and direct,
wholly owned subsidiary of the Company (“Holdco”), Denali SPAC Merger Sub, Inc., a Delaware corporation and direct, wholly
owned subsidiary of Holdco (“Denali Merger Sub”), Longevity Merger Sub, Inc., a Delaware corporation and direct, wholly owned
subsidiary of Holdco (“Longevity Merger Sub”), and Bradford A. Zakes, solely in the capacity as seller representative (the
“Seller Representative”).  

F-11

Denali
Capital Acquisition Corp.

Notes
to Consolidated Financial Statements

On
June 26, 2024, pursuant to Section 11.1(a) of the Longevity Merger Agreement, the parties entered into a termination agreement (the “Termination
Agreement”) pursuant to which the Longevity Merger Agreement was terminated effective as of the date of the Termination Agreement
(the “Termination”).

As
a result of the Termination Agreement, the Longevity Merger Agreement is of no further force and effect (other than certain customary
limited provisions that survive the termination pursuant to the terms of the Longevity Merger Agreement) and ancillary agreements entered
into in connection with the Longevity Merger Agreement also automatically terminated in accordance with their respective terms. As a
result of the termination of the Longevity Merger Agreement, Holdco filed the Registration Withdrawal Request on Form RW on August 9,
2024, to withdraw its registration statement on Form S-4, as amended, initially filed with the SEC on March 29, 2023.

Merger
Agreement – Semnur

On
August 30, 2024, the Company entered into an agreement and plan of merger (the “Merger Agreement”) with Semnur Pharmaceuticals,
Inc. (“Semnur”), a Delaware corporation and wholly owned subsidiary of Scilex Holding Company (“Scilex”), and
Denali Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of the Company (“Merger Sub”). The term “New
Semnur” is used to refer to the Company after completion of the transactions contemplated by the Merger Agreement.

Subject
to the terms and conditions set forth in the Merger Agreement, the total consideration to be paid at Closing by the Company to Semnur’s