Company: SMNR
Filing Date: 2025-03-25
Form Type: PRER14A
Source: 0001013762-25-002297
Chunk: 17

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-03-25
Form: PRER14A
Chunk 17
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 in the state where such securityholder lives. To date we have not registered our securities in any State, and do not currently plan to do so. This may make it difficult or impossible for our securityholders to trade in our securities. |
| You are not being asked to vote on an initial business combination at this time.    If the extension is implemented and you do not elect to redeem your public shares, provided that you are a shareholder on the record date for a meeting to consider an initial business combination, you will retain the right to vote on an initial business combination when it is submitted to shareholders and the right to redeem your public shares for cash in the event an initial business combination is approved and completed or we have not consummated an initial business combination by the Extended Date.                                                                                                                                                                            |

3

| Why is the Company proposing the Extension Amendment Proposal and the Adjournment Proposal? |     | The current amended and restated memorandum and articles of association of the Company provide that we have until the Termination Date to complete an initial business combination. The Board has determined that it is in the best interests of the Company to approve the Extension Amendment Proposal and, if necessary, the Adjournment Proposal, to allow for additional time to consummate an initial business combination. While we are using our best efforts to complete an initial business combination as soon as practicable, the Board believes that there will not be sufficient time before the Termination Date to complete an initial business combination. Accordingly, the Board believes that in order to be able to consummate an initial business combination, we will need to obtain the extension. Without the extension, the Board believes that there is significant risk that we will not, despite our best efforts, be able to complete an initial business combination on or before the Termination Date. If that were to occur, we would be precluded from completing an initial business combination and would be forced to liquidate even if our shareholders are otherwise in favor of consummating an initial business combination. We believe that given our expenditure of time, effort and money on finding a potential initial business combination, circumstances warrant providing our shareholders an opportunity to consider an initial business combination. |
|                                                                                             |     | Accordingly, the Board is proposing the Extension Amendment Proposal to amend the amended and restated memorandum and articles of association of the Company in the form set forth in Annex A hereto to: extend the date by which we must either (i) consummate an initial business combination or (ii) cease its operations, except for the purpose of winding