Company: SMNR
Filing Date: 2025-08-08
Form Type: S-4/A
Source: 0001193125-25-177097
Chunk: 674

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-08
Form: S-4/A
Chunk 674
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 each case without further vote or action by New Semnur’s stockholders. The number of authorized shares of New Semnur Common Stock and New Semnur Preferred Stock may be increased or decreased (but not below the number of the shares thereof then outstanding) by the affirmative vote of the holders of a majority of the voting power of the outstanding stock of New Semnur entitled to vote thereon.

The New Semnur Board may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of New Semnur Common Stock. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control and may adversely affect the market price of New Semnur Common Stock and the voting and other rights of the holders of New Semnur Common Stock. Other than the New Semnur Series A Preferred Stock to be issued to Scilex in connection with the closing of the Business Combination, there will be no other New Semnur Preferred Stock outstanding immediately after the closing of the Business Combination and New Semnur has no current plans to issue any other shares of preferred stock.

Upon the closing of the Business Combination, up to 6,000,000 shares of New Semnur Series A Preferred Stock will be issued to holders of Semnur Preferred Stock (i.e., Scilex) pursuant to the terms of the Merger Agreement and such shares shall have all of the rights, preferences and privileges set forth in the New Semnur Certificate of Designations as more fully described below.

Number and Designation

In connection with the closing of the Business Combination, Denali will file the New Semnur Certificate of Designations, designating a number of shares of “Series A Preferred Stock” of New Semnur, which number shall not exceed 6,000,000 shares and shall be issued to holders of Semnur Preferred Stock pursuant to the terms of the Merger Agreement and such shares shall have all of the rights, preferences and privileges set forth in the New Semnur Certificate of Designations as more fully described below.

Rank

The New Semnur Series A Preferred Stock shall rank (i) senior to all New Semnur Common Stock, and to all other classes or series of capital stock of New Semnur, except for any such other class or series, the terms of which expressly provide that