Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 7

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1
Chunk 7
---
 Merger Agreement, by and among Longevity, Holdco, Denali Merger Sub, Longevity Merger
Sub, and Bradford A. Zakes, solely in the capacity as seller representative.

On
October 11, 2023, our shareholders held the Extension Meeting to vote in favor of approving amendments to the Articles to, amongst other
things, extend the date by which we must consummate an initial business combination from October 11, 2023 to July 11, 2024 by electing
to extend the date to consummate an initial business combination on a monthly basis for up to nine times by an additional one month each
time, subject to the sponsor (or its affiliates or permitted designees) depositing into the Trust Account for each such one-month extension
the lesser of (a) an aggregate of $50,000 or (b) $0.03 per public share that remains outstanding and is not redeemed prior to any such
one-month extension, unless the closing of our initial business combination has occurred.

Furthermore,
in connection with the Extension Meeting, shareholders holding 3,712,171 public shares (after giving effect to withdrawals of redemptions)
exercised their right to redeem such shares for a pro rata portion of the funds in our Trust Account. As a result, approximately $40.5
million (approximately $10.92 per share) was removed from the Trust Account to pay such holders. Following redemptions, we had 4,537,829
public shares outstanding.

In connection with the Second
Extension Meeting, shareholders holding 3,785,992 public shares (after giving effect to withdrawals of redemptions) exercised their right
to redeem such shares for a pro rata portion of the funds in the Trust Account. As a result, approximately $43.4 million (approximately
$11.47 per share) was removed from the Trust Account to pay such holders. Following redemptions, we had 751,837 public shares outstanding.

3

On
January 9, 2024, our shareholders held the Longevity Business Combination Meeting and voted in favor of approving the Longevity Business
Combination.

On
June 26, 2024, pursuant to Section 11.1(a) of the Longevity Merger Agreement, the parties to the Longevity Merger Agreement entered into
the Termination Agreement pursuant to which the Longevity Merger Agreement was terminated effective as of the date of the Termination