Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 724

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 4
Chunk 724
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a) to our officers or directors, any affiliates or family members of any of our officers or directors, any members or partners
of our sponsor or their affiliates, any affiliates of our sponsor, or any employees of such affiliates; (b) in the case of an individual,
by gift to a member of one of the individual’s immediate family or to a trust, the beneficiary of which is a member of the individual’s
immediate family, an affiliate of such person or to a charitable organization; (c) in the case of an individual, by virtue of laws of
descent and distribution upon death of the individual; (d) in the case of an individual, pursuant to a qualified domestic relations order;
(e) by private sales or transfers made in connection with any forward purchase agreement or similar arrangement or in connection with
the consummation of a business combination at prices no greater than the price at which the founder shares, Private Placement Units or
Class A ordinary shares, as applicable, were originally purchased; (f) by virtue of our sponsor’s organizational documents upon
liquidation or dissolution of our sponsor; (g) to us for no value for cancellation in connection with the consummation of our initial
business combination; (h) in the event of our liquidation prior to the completion of our initial business combination; or (i) in the
event of our completion of a liquidation, merger, share exchange or other similar transaction which results in all of our public shareholders
having the right to exchange their Class A ordinary shares for cash, securities or other property after our completion of our initial
business combination; provided, however, that in the case of clauses (a) through (f) these permitted transferees must enter into a written
agreement agreeing to be bound by these transfer restrictions and the other restrictions contained in the letter agreement.

Item
13. Certain Relationships and Related Transactions, and Director Independence.

In
February 2022, we issued an aggregate of 2,156,250 founder shares to our sponsor in exchange for a payment of $25,000 from our sponsor
to cover for certain expenses on behalf of us, or approximately $0.012 per share. Our sponsor later transferred 20,000 founder shares
to our Chief Financial Officer and 110,000 founder shares to certain members of our board of directors and forfeited 93,750 founder shares
pursuant to the underwriters partially exercising their over-allotment option. On August 30,