Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 244

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 244
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 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. New Semnur has expressly elected not to be governed by Section 203 of the DGCL until the occurrence of a Scilex Trigger Event. At that time, such election shall be automatically withdrawn and New Semnur will thereafter be governed by Section 203 of the DGCL, except that the restrictions on business combinations of Section 203 of the DGCL will not apply to Scilex or its current or future Affiliates (as defined in the Proposed Charter) regardless of its percentage ownership of New Semnur Common Stock. These provisions could discourage, delay or prevent a transaction involving a change in control of New Semnur. These provisions could also discourage proxy contests and make it more difficult for New Semnur’s stockholders to elect directors of their choosing and cause New Semnur to take other corporate actions they desire, including actions that New Semnur’s stockholders may deem advantageous. In addition, because the New Semnur Board is responsible for appointing the members of New Semnur’s management team, these provisions could in turn affect any attempt by New Semnur’s stockholders to replace current members of New Semnur’s management team. These anti-takeover provisions and other provisions in the Proposed Charter, the Proposed Bylaws and Delaware law could make it more difficult for stockholders or potential acquirors to obtain control of the New Semnur Board or initiate actions that are opposed by New Semnur’s then-current board of directors and could also delay or impede a merger, tender offer or proxy contest involving New Semnur. The existence of these provisions could negatively affect the price of New Semnur Common Stock and limit opportunities for a stockholder to realize value in a corporate transaction. For additional information regarding these and other provisions, see the 135

section titled “Description of New Semnur Securities.” In addition, if prospective takeovers are not consummated for any reason, New Sem