Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 1694

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 10
Chunk 1694
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ger 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 Semnur common stock to be counted as present thereat for the purpose of establishing a quorum; (ii) vote (or execute
and return an action by written consent), or cause to be voted at any such meeting of Semnur’s stockholders (or validly execute
and return and cause such consent to be granted with respect to), all of its shares of Semnur common stock in favor of the Merger Agreement
and the Business Combination; (iii) authorize and approve any amendment to Semnur’s certificate of incorporation or bylaws that
is deemed necessary or advisable by Semnur for purposes of effecting the Business Combination; and (iv) vote (or execute and return an
action by written consent), or cause to be voted at any such meeting of Semnur’s stockholders (or validly execute and return and
cause such consent to be granted with respect to), all of its shares of Semnur common stock against any other action that would reasonably
be expected to (a) impede, interfere with, frustrate, delay, postpone or adversely affect the Business Combination, (b) result in a breach
of any covenant, representation or warranty or other obligation or agreement of Semnur under the Merger Agreement or (c) result in a
breach of any covenant, representation or warranty or other obligation or agreement of Scilex contained in the Stockholder Support Agreement.

Sponsor
Interest Purchase Agreement

In
connection with the execution and delivery of the Merger Agreement, the Sponsor and Scilex entered into a Sponsor Interest Purchase Agreement
(the “SIPA”) dated August 30