Company: SMNR
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001213900-25-027319
Chunk: 1372

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 9
Chunk 1372
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 of (i) the total number of ordinary shares issued and outstanding upon completion
of the IPO, plus (ii) the total number of Class A ordinary shares issued or deemed issued or issuable upon conversion or exercise of
any equity-linked securities or rights issued or deemed issued, by the Company in connection with or in relation to the consummation
of the initial Business Combination (after giving effect to any redemptions of Class A ordinary shares by Public Shareholders), excluding
any Class A ordinary shares or equity-linked securities exercisable for or convertible into Class A ordinary shares issued, deemed issued,
or to be issued, to any seller in the initial Business Combination and any Private Placement Units issued to the Sponsor, its affiliates
or any member of the Company’s management team upon conversion of the Working Capital Loans. Any conversion of Class B ordinary
shares described herein will take effect as a compulsory redemption of Class B ordinary shares and an issuance of Class A ordinary shares
as a matter of Cayman Islands law. In no event will the Class B ordinary shares convert into Class A ordinary shares at a rate of less
than one-to-one. During a shareholders’ extraordinary general meeting held on October 11, 2023, a proposal was approved that Class
A ordinary shares will be issued to holders of Class B ordinary shares upon the exercise of the right of a holder of the Company’s
Class B ordinary shares, par value $0.0001 per share, to convert such holder’s Class B ordinary shares into Class A ordinary
shares on a one-for-one basis at any time and from time to time prior to the closing of an initial business combination at the election
of the holder (the “Founder Share Amendment”).  

Warrants

All
warrants (Public Warrants and Private Warrants) will become exercisable at $11.50 per share, subject to adjustment, on the later
of 30 days after the completion of the initial Business Combination or 12 months from the closing of the IPO; provided in each case that
the Company has an effective registration statement under the Securities Act covering the issuance of the Class A ordinary shares issuable
upon exercise of the warrants and a current prospectus relating to them is available (or the Company permits holders to exercise their
warrants on a cashless basis under the circumstances specified in the warrant agreement). The warrants will expire at 5:00 p.m., New
York City time, five years after the completion of the initial Business Combination or earlier