Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 673

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 673
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 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.

Fully Paid and Non-Assessable

The outstanding Denali Ordinary Shares are, and the shares of New Semnur Common Stock issued in the Business Combination will be, fully paid and non-assessable.

New Semnur Preferred Stock Following the Business Combination

The Proposed Charter will authorize the New Semnur Board, subject to limitations prescribed by Delaware law, to issue up to 45,000,000 shares of preferred stock in one or more series, to determine and fix from time to time the number of shares to be included in each such series and to fix the designations, powers, rights and preferences of the shares of each such series, and the qualifications, limitations and restrictions thereof, including voting rights (if any), dividend rights, dissolution rights, conversion rights, exchange rights and redemption rights, in