Company: SMNR
Filing Date: 2025-07-23
Form Type: S-4/A
Source: 0001193125-25-163401
Chunk: 671

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-07-23
Form: S-4/A
Chunk 671
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 to the same extent as if such holders of New Semnur Series A Preferred Stock had been deemed to convert their shares of New Semnur Series A Preferred Stock into New Semnur Common Stock and had held such shares of New Semnur Common Stock on the record date for such dividends and distributions. Such payments will be made concurrently with the dividend or distribution to the holders of the New Semnur Common Stock.

Liquidation Preference

In the event of a change of control, liquidation, dissolution or winding-up of New Semnur, whether voluntary or involuntary, before any payment or distribution of New Semnur’s property or assets (whether capital or surplus) shall be made to or set apart for the holders of Junior Securities, the holders of New Semnur Series A Preferred Stock shall be entitled to receive an amount per share of New Semnur Series A Preferred Stock equal to the greater of (i) the sum of $10.00 (which amount shall be appropriately adjusted in the event of any stock split, stock combination or other similar recapitalization of the New Semnur Series A Preferred Stock) and all accrued and unpaid dividends and (ii) the amount such share of New Semnur Series A Preferred Stock would be entitled to receive pursuant to the change of control, liquidation, dissolution or winding-up of New Semnur assuming that such share had been converted into shares of New Semnur Common Stock in a Deemed Conversion (as defined below). If, in the event of a change of control, liquidation, dissolution or winding-up of New Semnur, New Semnur’s assets, or proceeds thereof, are insufficient to pay in full the aggregate amount of liquidation preference payable in respect of all outstanding shares of New Semnur Series A Preferred Stock, such assets or the proceeds thereof will be distributed ratably in proportion to the respective amounts of the liquidation preference if paid in full.

Conversion and Redemption Rights

The shares of New Semnur Series A Preferred Stock will not be convertible into New Semnur Common Stock or any other securities of New Semnur and will not be redeemable by New Semnur; provided, however, a number of the rights, preferences and privileges of the New Semnur Series A Preferred Stock set forth in the New Semnur Certificate of Designations will be determined based on an as-converted-to-New Semnur Common Stock basis or otherwise assume that the shares of New Semnur Series A Preferred Stock are converted into