Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 234

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 234
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 the Proposed Bylaws, each of which will be in effect upon completion of the Business Combination, and the DGCL contains provisions that could make it more difficult for a third party to acquire New Semnur, even if doing so might be beneficial to New Semnur’s stockholders. Among other things, these provisions include:

| • |     | allow the New Semnur Board to authorize the issuance of undesignated preferred stock, the terms of which may be                                                                                                                      
 established and the shares of which may be issued without stockholder approval, and which may include supermajority voting, special approval, dividend, or other rights or preferences superior to the rights of other stockholders; |

| • |     | provide for a classified board of directors with staggered three-year terms; |

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| • |     | provide that, at any time after the Scilex Trigger Event, directors may only be removed for cause, and only by                                                                                 
 the affirmative vote of holders of at least 66 2/3% in voting power of all the then-outstanding shares of New Semnur Common Stock entitled to vote thereon, voting together as a single class; |

| • |     | prohibit stockholder action by written consent from and after the Scilex Trigger Event; |

| • |     | provide that, at any time after the Scilex Trigger Event, special meetings may only be called by or at the 
 direction of the Chairman of the New Semnur Board, the New Semnur Board or the Chief Executive Officer;    |

| • |     | provide that, at any time after the Scilex Trigger Event, any alteration, amendment or repeal, in whole or in                                                                                                                                      
 part, of any provision of the Proposed Bylaws by New Semnur’s stockholders will require the affirmative vote of the holders of at least 66 2/3% in voting power of all the then-outstanding shares of the New Semnur Common Stock entitled to vote 
 thereon, voting together as a single class; and                                                                                                                                                                                                    |

| • |     | establish advance notice requirements for nominations for elections to the New Semnur Board and for proposing 
 matters that can be acted upon by stockholders at stockholder meetings.                                       |

Section 203 of the DGCL generally prohibits a Delaware corporation from engaging in any of a broad range of business combinations with any interested stockholder for a period of three years following the date on which the stockholder became an interested stockholder.