Company: SMNR
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001213900-25-044889
Chunk: 16

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 to, among other things: (i) vote in favor of the Parent Shareholder Approval Matters (as defined in
the Merger Agreement) and in favor of any proposal in respect of an Extension Amendment (as such terms are defined in the Merger Agreement);
(ii) vote against (or otherwise withhold written consent of, as applicable) any “Business Combination” (as such term is defined
in Denali’s organizational documents) or any proposal relating thereto (in each case, other than as contemplated by the Merger Agreement);
(iii) vote against (or otherwise withhold written consent of, as applicable) any merger agreement or merger, consolidation, combination,
sale of substantial assets, reorganization, recapitalization, dissolution, liquidation or winding up of or by the Company (other than
the Merger Agreement and the transactions contemplated thereby); (iv) vote against (or otherwise withhold written consent of, as applicable)
any change in the business, management or board of directors of the Company (other than in connection with the Merger Agreement and the
transactions contemplated thereby); and (v) vote against (or otherwise withhold written consent of, as applicable) any proposal, action
or agreement that would (a) impede, frustrate, prevent or nullify any provision of the Sponsor Support Agreement or the Merger Agreement
or any of the transactions contemplated thereby, (b) result in a breach in any respect of any covenant, representation, warranty or any
other obligation or agreement of Denali or Merger Sub under the Merger Agreement, (c) result in any of the conditions set forth in Article
VIII of the Merger Agreement not being fulfilled or (d) change in any manner the dividend policy or capitalization of, including the voting
rights of any class of capital stock of, the Company. Under the terms of the Sponsor Support Agreement, the Sponsor also agreed to certain
standstill provisions with respect to the ordinary shares and other equity securities of the Company held by the Sponsor.

Stockholder Support Agreement

Concurrently with the execution of the Merger
Agreement, the Company, Semnur and Scilex (as the sole stockholder of Semnur) entered into a company stockholder support agreement (the
“Stockholder Support Agreement”), pursuant to which Scilex agreed to, among other things: (i) appear at any meeting of Semnur’s
stockholders related to the transactions contemplated by the Merger Agreement, or otherwise cause its shares of Semn