Company: SMNR
Filing Date: 2025-07-02
Form Type: S-4/A
Source: 0001193125-25-154936
Chunk: 670

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-02
Form: S-4/A
Chunk 670
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 Following the Business Combination

The Proposed Charter, which Denali will adopt if the Charter Approval Proposal is approved, provides the following with respect to the rights, powers, preferences and privileges of New Semnur Common Stock.

Dividend Rights

The holders of New Semnur Common Stock will be entitled to receive ratably those dividends, if any, that may be declared from time to time by the New Semnur Board upon the shares of capital stock of New Semnur, which dividends may be paid either in cash, in property or in shares of capital stock of New Semnur, subject to preferences that may be applicable to preferred stock, if any, then outstanding. Subject to applicable law and the Proposed Charter, the New Semnur Board will have full power to determine whether any dividends shall be declared and paid to stockholders. See the section titled “Trading Market and Dividends—Denali—Dividend Policy”.

Voting Rights

Each outstanding share of New Semnur Common Stock shall entitle the holder thereof to one vote on each matter on which stockholders generally are entitled to vote, except for any amendment to the Proposed Charter that relates solely to the terms of one or more outstanding classes or series of New Semnur Preferred Stock if the holders of such affected classes or series are entitled, either separately or together with the holders of one or more other such classes or series, to vote thereon pursuant to the Proposed Charter or the DGCL. Any action or matter presented to the stockholders at a duly called or convened meeting, at which a quorum is present, will be decided by the affirmative vote of the holders of a majority of the votes cast affirmatively or negatively (excluding abstentions) at the meeting by the holders entitled to vote thereon, except that New Semnur’s directors will be elected by a plurality of the votes cast.

Right to Receive Liquidation Distributions

In the event of a change of control, liquidation, dissolution or winding up of New Semnur, the holders of New Semnur Common Stock will be entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of New Semnur Preferred Stock, if any, then outstanding.**

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**No Preemptive or Similar Rights

The New Semnur Common Stock will have no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the New Semnur Common Stock.