Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 385

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 385
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 substantially intact its material business relationships with clients, suppliers and other third parties. During the Interim Period, Semnur has also agreed not to, and to cause its subsidiaries not to, except as otherwise contemplated by the Merger Agreement, including the Semnur disclosure schedules thereto and as necessary to implement the transactions contemplated by the Debt Exchange Agreement, as consented to by Denali in writing (which consent will not be unreasonably conditioned, withheld, delayed or denied) or as required by applicable law:

| • |     | except for the filing of the Semnur Certificate of Designations pursuant to the Debt Exchange Agreement and with respect to the name of Semnur, materially amend the governing documents of Semnur; |

| • |     | amend, waive any provision of or terminate prior to its scheduled termination date certain material contracts; |

| • |     | make any capital expenditures in excess of $300,000, individually or in the aggregate; |

| • |     | sell, lease, license or otherwise dispose of any of its assets or assets covered by any contract except (i) pursuant to existing contracts or commitments disclosed herein, (ii) non-exclusive licenses of Intellectual Property in the ordinary course, and (iii) other grants and licenses of Intellectual Property that would not result in a legal transfer of title of such licensed Intellectual Property, but that may be exclusive as to territory, field of use, product, and/or indication, in all cases outside of the United States; |

| • |     | pay, declare or promise to pay any dividends or other distributions with respect to its capital stock, share capital or other equity interests; |

| • |     | other than with respect to the Outstanding Indebtedness (as such indebtedness may be adjusted pursuant to the terms of the Debt Exchange Agreement), obtain or incur any indebtedness in excess of $15,000,000 in the aggregate, including in respect of intercompany loans, advances or other debt or funding from Scilex to Semnur; |

| • |     | merge or consolidate with any other entity or acquire any corporation, partnership, association or other business entity or organization or division thereof; |

| • |     | make any change in its accounting principles other than in accordance with the applicable accounting policies or methods or write down the value of any inventory or assets other than in the ordinary course of business consistent with past practice; |

| • |     | extend any loans other than travel or other expense advances to employees in the ordinary