Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 637

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 3
Chunk 637
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 par value $0.0001 per share, to convert such holder’s Class B ordinary shares
into Class A ordinary shares on a one-for-one basis at any time and from time to time prior to the closing of an initial business
combination at the election of the holder (the “Founder Share Amendment”). No such conversions have been made as of the
date of this filing. Further, the Class B ordinary shares that convert into Class A ordinary shares do not possess redemption
rights.

The
Sponsor has agreed that it will be liable to the Company if and to the extent any claims by a third party (other than the Company’s
registered public accounting firm) for services rendered or products sold to the Company, or by a prospective target business with which
the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below the lesser
of (i) $10.20 per Public Share or (ii) the actual amount per Public Share held in the Trust Account as of the date of the liquidation
of the Trust Account if less than $10.20 per Public Share due to reductions in the value of the trust assets, in each case net of
the interest which may be withdrawn to pay taxes. This liability will not apply with respect to any claims by a third party or prospective
target business who executed a waiver of any and all rights to seek access to the Trust Account, nor will it apply to any claims under
the Company’s indemnity of the underwriters of the IPO against certain liabilities, including liabilities under the Securities
Act of 1933, as amended, (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable
against a third party, the Company’s Sponsor will not be responsible to the extent of any liability for such third party claims.

Merger
Agreement – Longevity (termination)

On
January 25, 2023, the Company entered into an Agreement and Plan of Merger (the “Longevity Merger Agreement”), by and among
Longevity Biomedical, Inc., a Delaware corporation (“Longevity”), Denali SPAC Holdco, Inc., a Delaware corporation and direct,
wholly owned subsidiary of the Company (“Holdco”), Denali SPAC Merger Sub, Inc., a Delaware corporation and direct, wholly
owned subsidiary of Holdco (“Denali Merger Sub”), Longevity Merger Sub, Inc., a Delaware corporation and direct