Company: SMNR
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001013762-25-003461
Chunk: 62

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 62
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CTIONS, AND DIRECTOR INDEPENDENCE Class B Ordinary Shares On February 3, 2022, the Sponsor paid an aggregate of $25,000, or approximately $0.012 per share, in consideration of 2,156,250 Class B ordinary shares, par value $0.0001 per share. In March 2022, the Sponsor transferred 20,000 Class B ordinary shares to the Chief Financial Officer of the Company and an aggregate of 110,000 Class B ordinary shares to certain members of the board of directors of the Company. The number of Class B ordinary shares issued was determined based on the expectation that such Class B ordinary shares would represent approximately 20% of the issued and outstanding shares upon completion of the offering (not including the private placement shares). On May 23, 2022, the Sponsor forfeited 93,750 Class B ordinary shares based on the over -allotmentoption partially exercised by the underwriters. On August 30, 2024, the Sponsor and Scilex entered into a sponsor interest purchase agreement (the “Sponsor Interest Purchase Agreement”), pursuant to which Scilex purchased 500,000 Class B ordinary shares (the “Purchased Interests”), that were then -heldby the Sponsor. The aggregate consideration for the purchase and sale of the Purchased Interests is as follows: (i) $2,000,000 (the “Cash Consideration”) and (ii) 300,000shares of common stock, par value $0.0001 per share, of Scilex (the “Scilex Shares”). Pursuant to the Sponsor Interest Purchase Agreement, Scilex paid the Cash Consideration and has agreed to issue the Scilex Shares to the Sponsor contingent upon and following the occurrence of the Effective Time (as defined in the Merger Agreement). The Purchased Interests will convert automatically, on a one -for -onebasis, into shares of common stock of the combined company in a business combination with Semnur at the effective time of the Domestication (as defined in the Merger Agreement) pursuant to the terms of the Merger Agreement. Denali Private Placement Units On April 11, 2022, we completed the sale to the Sponsor of an aggregate of 510,000 Private Placement Units for a purchase price of $10.00 per whole warrant for an aggregate of $5,100,000. Each whole Private Placement Unit consists of one Class A ordinary share and one Private Warrant.