Company: SMNR
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001193125-25-179226
Chunk: 558

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 558
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 August 30, 2024, the Semnur Board adopted and proposed resolutions to
amend Semnur’s Amended and Restated Certificate of Incorporation such that the total number of shares authorized for issuance was increased to 245,000,000 shares, consisting of 200,000,000 shares of common stock, par value $0.00001 per share
and 45,000,000 shares of preferred stock, par value $0.00001 per share. At the Closing, (i) each outstanding share of Semnur Common Stock as of immediately prior to the Effective Time of the Business Combination (other than shares held by
Semnur or its subsidiaries or shares the holders of which exercise dissenters’ rights of appraisal) will be automatically converted into the right to receive a number of shares of New Semnur Common Stock equal to the Exchange Ratio (as defined
below), (ii) each outstanding share of Semnur Preferred Stock as of immediately prior to the Effective Time will be automatically converted into the right to receive (a) one share of New Semnur Series A Preferred Stock and (b) one-tenth of one share of New Semnur Common Stock, and (iii) subject to the approval of the Option Exchange Proposal, each option to purchase Semnur Common Stock that is outstanding as of immediately
prior to the Effective Time shall be converted into the right to receive a New Semnur Option except that (x) such New Semnur Option shall relate to that whole number of shares of New Semnur Common Stock (rounded down to the nearest whole share)
equal to the number of shares of Semnur Common Stock subject to such option, multiplied by the Exchange Ratio, and (y) the exercise price per share for each such share of New Semnur Common Stock shall be equal to the exercise price per share of
such option in effect immediately prior to the Effective Time, divided by the Exchange Ratio (rounded up to the nearest whole cent).

The estimated Merger
Consideration to be transferred to Semnur stockholders and holders of Semnur stock options (assuming approval of the Option Exchange Proposal) at Closing is 250,000,000 shares of New Semnur Common Stock, which is equal to the quotient of (i) the sum
of (A) $2.5 billion plus (B) the product of (1) the aggregate number of shares of Semnur Common Stock and Semnur stock options issued after