Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 717

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 717
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2024, Scilex and Oramed agreed, among other things, that from and after the consummation of the Business Combination, neither Semnur nor Denali shall be required to guarantee or otherwise grant security for any Transaction Documents (as defined in the Scilex-Oramed SPA, and including the Scilex-Oramed SPA, the Security Agreement and the Subsidiary Agreement). Scilex and Oramed further agreed that on the Closing Date, all security interests and liens with respect to the assets and property of Semnur granted or created under the Transaction Documents shall be deemed to be released, discharged and terminated. As of the consummation of the Business Combination, Semnur will no longer be a Guarantor under the Subsidiary Guarantee and the Security Agreement.

Executive Officer and Director Compensation

Please see the section of this proxy statement/prospectus titled “Semnur’s Executive Compensation” for information regarding the compensation of Semnur’s executive officers and the section of this proxy statement/ prospectus titled “Semnur’s Director Compensation” for information regarding the compensation of Semnur’s non-employee directors.

Limitation of Liability and Indemnification of Officers and Directors

Please see the section of this proxy statement/prospectus titled “Directors and Executive Officers of New Semnur After the Business Combination — Limitation of Liability and Indemnification of Directors and Officers” for information regarding Semnur’s arrangements to provide indemnification to its officers and directors.

Post-Business Combination Agreements

In connection with the Business Combination, certain agreements with certain Semnur Related Parties were entered into or will be entered into pursuant to the Merger Agreement. The agreements described in this section, or forms of such agreements as they will be in effect substantially concurrently with the completion of the Business Combination, are filed as exhibits to the registration statement of which this proxy statement/prospectus**

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forms a part, and the following descriptions are qualified by reference thereto. These agreements are the amended and restated registration rights agreement (see the section titled “ The Merger Agreement — Certain Related Agreements and Arrangements — Amended and Restated Registration Rights Agreement”) and the stockholder agreement (see the section titled “ Certain Relationships and Related Party Transactions — Certain Relationships of Denali — Stockholder Agreement with Scilex”). Related Person Transaction Policy Effective upon the consummation of the Business Combination, New Semnur expects