Company: SMNR
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001013762-25-003461
Chunk: 43

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 43
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 business combination. Therefore, the Board will not be able to implement such plan unless our shareholders approve the Extension Amendment Proposal. Full Text of Resolution The text of the proposed amendments to the amended and restated memorandum and articles of association of the Company is attached to this proxy statement in Annex A. Interests of the Sponsor and the Company’s Directors and Officers. When you consider the recommendation of the Board, you should keep in mind that the Sponsor and certain of the Company’s directors and officers have interests that may be different from, or in addition to, your interests as a shareholder. These interests include, among other things: •the fact that our initial shareholders and members of our management team hold 1,562,500 Class B ordinary shares and the Sponsor holds 510,000 private placement warrants. In addition, certain of the Company’s directors and officers have beneficial interests in the Sponsor. All of such investments would expire worthless if an initial business combination is not consummated; on the other hand, if an initial business combination is consummated, such investments could earn a positive rate of return in the combined company, even if other holders of our ordinary shares experience a negative rate of return, due to having initially purchased Class B ordinary shares for $25,000; •the fact that, if the trust account is liquidated, including in the event we are unable to complete an initial business combination within the required time period, the Sponsor has agreed to indemnify us to ensure that the proceeds in the trust account are not reduced below $10.00 per public share, or such lesser per public share amount as is in the trust account on the liquidation date, by the claims of prospective target businesses with which we have entered into an acquisition agreement or claims of any third party for services rendered or products sold to us, but only if such a third party or target business has not executed a waiver of any and all rights to seek access to the trust account; and •the fact that none of our officers or directors has received any cash compensation for services rendered to the Company, and all of the current members of the Board are expected to continue to serve as directors at least through the date of the extraordinary general meeting to vote on a proposed initial business combination and may even continue to serve following any potential initial business combination and receive compensation thereafter. 26 The Sponsor and all of our directors and officers are expected to vote any ordinary shares owned by them in favor of the Extension Amendment Proposal. On the record date, the Sponsor and certain of the Company’s directors