Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 94

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 94
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); (iv) vote against (or
otherwise withhold written consent of, as applicable) any change in the business, management or board of directors of Denali (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, Denali. 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 Denali held by the Sponsor.

Company Stockholder Support Agreement. Concurrently with the execution of the Merger Agreement, Denali, and Scilex entered into the Company
Stockholder Support Agreement, pursuant to which Scilex agreed to vote all Semnur Common Stock beneficially owned by it, including any additional shares of Semnur it acquires ownership of or the power to vote, in favor of the Business Combination
and related transactions.

Amended and Restated Registration Rights Agreement. The Merger Agreement contemplates that, at or prior to the
Closing, Denali, Scilex, the Sponsor and certain shareholders of Denali will enter into the Registration Rights Agreement, which, among other things, will govern the registration of certain shares of New Semnur Common Stock for resale and be
effective as of the Closing.

Stockholder Agreement. Concurrently with the execution of the Merger Agreement, Denali and Scilex entered into
the Stockholder Agreement, pursuant to which (and subject to certain rights of Oramed), among other things, from and after the Effective Time, and for so long as Scilex beneficially owns any shares of New Semnur Series A Preferred Stock, Scilex
shall have the right, but not the obligation, to designate a Stockholder Designee or Stockholder Designees and New Semnur will be required