Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 387

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 387
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 except for such covenants and agreements that by their terms expressly apply post-Closing. Material Adverse Effect Under the Merger Agreement, (i) certain representations and warranties of Denali and Semnur are qualified in whole or in part by a Material Adverse Effect standard for purposes of determining whether a breach of such representations and warranties has occurred (ii) the obligation of each of Denali and Merger Sub to consummate the Business Combination is conditioned on no Material Adverse Effect having occurred from the date of the Merger Agreement with respect to Semnur that is continuing and (iii) the obligation of Semnur to consummate the Business Combination is conditioned on no Material Adverse Effect having occurred from the date of the Merger Agreement with respect to Semnur that is continuing. A Material Adverse Effect means any change, event, effect or occurrence that, individually or in the aggregate with any other change, event, effect or occurrence, has had or would reasonably be expected to (i) have a material adverse effect on the financial condition, business, operations or results of operations of Semnur or Denali (as the case may be) and its subsidiaries, taken as a whole, or (ii) prevent, materially delay or materially impede the ability of Semnur or Denali (as the case may be) to consummate the transactions contemplated by the Merger Agreement, including the Business Combination; provided, however, in determining whether a “Material Adverse Effect” has occurred pursuant to clause (i) described above none of the following changes, events, effects or occurrences shall be taken into account:

| • |     | general economic or political conditions; |

| • |     | conditions generally affecting the industries in which Semnur or Denali (as the case may be) operate; |

| • |     | any changes in financial, banking or securities markets in general, including any disruption thereof and any decline in the price of any security or any market index or any change in prevailing interest rates; |

| • |     | acts of war (whether or not declared), armed hostilities or terrorism, or the escalation or worsening thereof; |

| • |     | any action required or permitted by the Merger Agreement or any action taken (or omitted to be taken) with the written consent of or at the written request of Semnur or Denali (as the case may be); |

| • |     | any matter of which Semnur or Denali (as the case may