Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 685

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 685
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ilex to attend all meetings of the committees of the New Semnur Board. The Stockholder Agreement also provides that
New Semnur will be prohibited from taking certain actions without the consent of Scilex. Such actions include, among other things, amendments to the certificate of designations designating the New Semnur Preferred Stock, increases or decreases in
the size of the New Semnur Board, the incurrence of certain amounts of indebtedness and the payment of dividends on New Semnur Common Stock.

The
Stockholder Agreement also provides that New Semnur shall not, and shall cause its subsidiaries not to, among others, without the prior written consent of Scilex: (i) amend, alter, modify or repeal (whether by merger, consolidation, by
operation of law or otherwise) any provisions of the Proposed Charter (including the New Semnur Certificate of Designations) or the Proposed Bylaws that increase or decrease the authorized number of directors constituting the New Semnur Board;
(ii) take any action that would have the effect of increasing or decreasing the number of directors constituting the New Semnur Board; (iii) amend, alter, modify or repeal (whether by merger, consolidation, reclassification, by operation
of law or otherwise) any provisions of the respective charters (and any related organizational documents) of any of the committees of the New Semnur Board; (iv) file any voluntary petition under any applicable federal or state bankruptcy or
insolvency law on behalf of New Semnur or any of its subsidiaries; (v) (A) incur or permit any of New Semnur’s subsidiaries to incur any indebtedness in an aggregate principal amount in excess of $10,000,000) (with “principal
amount” for purposes of this definition to include undrawn committed or available amounts) or (B) enter into, modify, amend or renew (or permit any of its subsidiaries to enter into, modify, amend or renew) any contract or other agreement
in respect of indebtedness in an aggregate principal amount in excess of $10,000,000 (with “principal amount” for purposes of this definition to include undrawn committed or available amounts); (vi) consummate or otherwise enter into any
other contract or agreement to effect any change of control, joint venture or corporate reorganization by New Semnur or any of its subsidiaries; (vii) declare or pay any dividend or distribution on New Semnur Common Stock,