Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 1040

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 1040
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 any of the following events shall have occurred after the original issuance of the Series A Preferred Stock:

| (i) | any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the                                                                                                                                                                                                                                       
 Exchange Act (as defined in Section 10)) (other than Sorrento Therapeutics, Inc. or its affiliates) acquires the beneficial ownership (as defined in Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of more than 50% of the total voting power of the Corporation’s outstanding voting stock; or |

| (ii) | the consummation of (x) any merger, conversion, consolidation, share exchange or other similar transaction                                                                                                                                              
 involving the Corporation or any of its subsidiaries, (y) any sale, lease, exchange or other transfer in one transaction or a series of related transactions of all or substantially all of the consolidated assets of the Corporation and its          
 subsidiaries, taken as a whole, to any Person other than one of the Corporation’s subsidiaries or, (z) any recapitalization, reclassification or change of the Common Stock (other than changes resulting from a split, subdivision or                  
 combination), in each case, other than a transaction in which all of the persons that “beneficially owned,” directly or indirectly, the voting shares of capital stock of the Corporation immediately prior to such transaction beneficially            
 own, directly or indirectly, voting shares of capital stock representing a majority of the total voting power of all outstanding classes of capital stock of the surviving or resulting entity, transferee or ultimate parent of such party in the same 
 relative proportions; or                                                                                                                                                                                                                                |

G-6

| (iii) | individuals who, immediately following the Effective Time (as defined in the Merger Agreement), are members of                                                                                                                                         
 the Board of Directors (the “Incumbent Board”) cease for any reason to constitute at least a majority of the members of the whole Board of Directors; provided, however, that if the appointment or election (or nomination for                        
 election) of any new member of the Board of Directors was approved or recommended by a majority vote of the members of the Incumbent Board then still in office, such new member shall, for purposes of this Certificate, be considered as a member of 
 the Incumbent Board.                                                                                                                                                                                                                                   |

“ Closing Sale Price” of the Common Stock on any day means: (i) if the shares of Common Stock are listed