Company: SMNR
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001013762-25-003461
Chunk: 25

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 25
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 categories of investments to mandatory filings. If our potential initial business combination with a U.S. business falls within the scope of foreign ownership restrictions, we may be unable to consummate an initial business combination with such business. In addition, if our potential business combination falls within CFIUS’s jurisdiction, we may be required to make a mandatory filing or determine to submit a voluntary notice to CFIUS, or to proceed with the initial business combination without notifying CFIUS and risk CFIUS intervention, before or after closing the initial business combination. CFIUS may decide to block or delay our initial business combination, impose conditions to mitigate national security concerns with respect to such initial business combination or order us to divest all or a portion of a U.S. business of the combined company if we had proceeded without first obtaining CFIUS clearance. The foreign ownership limitations, and the potential impact of CFIUS, may limit the attractiveness of a transaction with us or prevent us from pursuing certain initial business combination opportunities that we believe would otherwise be beneficial to us and our shareholders. As a result, the pool of potential targets with which we could complete an initial business combination may be limited and we may be adversely affected in terms of competing with other special purpose acquisition companies which do not have similar foreign ownership issues. Moreover, the process of government review, whether by CFIUS or otherwise, could be lengthy. Because we have only a limited time to complete our initial business combination, our failure to obtain any required approvals within the requisite time period may require us to liquidate. If we liquidate, our public shareholders may only receive $12.13 per public share, and our warrants will expire worthless. This will also cause you to lose any potential investment opportunity in a target company and the chance of realizing future gains on your investment through any price appreciation in the combined company. 15 Nasdaq will suspend trading of our securities and commence delisting proceedings on or about April 6, 2025 due to the Company’s failure to consummate a business combination within 36 months of effectiveness of its initial public offering registration statement, which will adversely affect the trading market for our securities and may impair our ability to complete a business combination. The Company’s Public Units, Class A ordinary shares and public warrants are listed on Nasdaq. Nasdaq IM -5101-2requires that special purpose acquisition companies like ours complete a business combination within 36 months of the effectiveness of its initial public offering registration statement, which, in the case of the Company, is April