Company: SMNR
Filing Date: 2025-10-21
Form Type: S-1
Source: 0001193125-25-245178
Chunk: 307

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-10-21
Form: S-1
Chunk 307
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 reclassification or otherwise) into cash, securities or other property except in accordance with the terms of the Certificate of Designations; (b) create, authorize or issue any Parity Security or other equity security the terms of which provide that it ranks senior to the Series A Preferred Stock with respect to dividend rights or rights upon liquidation, dissolution or winding-up of Semnur, or increase the authorized amount of any such other class or series; or (c) amend its certificate of incorporation or the Certificate of Designations in any manner that adversely affects the holders of Series A Preferred Stock.

Registration Rights

Pursuant to the Registration Rights Agreement, certain stockholders of Semnur are able to demand that Semnur register their registrable securities under certain circumstances and have piggyback registration rights for these securities. In addition, Semnur is required to file and maintain an effective registration statement under the Securities Act covering the resale of all such registrable securities. The registration of these securities enables the public sale of such securities, subject to certain contractual restrictions imposed by the Registration Rights**

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**Agreement and the Merger Agreement. The presence of these additional shares of common stock trading in the public market may have an adverse effect on the market price of Semnur’s securities.

Anti-takeover Matters in Semnur’s Governing Documents and Under Delaware Law

Certain provisions of Delaware law, along with the Charter and the Bylaws, all of which are summarized below, may have the effect of delaying, deferring or discouraging another person from acquiring control of Semnur. These provisions are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed, in part, to encourage persons seeking to acquire control of Semnur to first negotiate with the Board. However, these provisions could have the effect of delaying, discouraging or preventing attempts to acquire Semnur, which could deprive Semnur’s stockholders of opportunities to sell their shares of Common Stock at prices higher than prevailing market prices.

Authorized but Unissued Capital Stock

The authorized but unissued shares of Common Stock and Preferred Stock are available for future issuance without stockholder approval, subject to any limitations imposed by the rules of the Nasdaq Listing Rules. These additional shares may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized but unissued and unreserved Common Stock and Preferred Stock could make more difficult or discourage an attempt to obtain control of Semn