Company: SMNR
Filing Date: 2025-08-12
Form Type: S-4/A
Source: 0001193125-25-178821
Chunk: 49

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-08-12
Form: S-4/A
Chunk 49
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nur Series A Preferred Stock and 507,548 shares of New Semnur Common Stock. The Aggregate Outstanding Amount as of Closing will be exchanged for equity, regardless of the amount of Denali Class A Ordinary Shares that are redeemed in connection with the Business Combination.

| Q: | What are the key terms of the New Semnur Series A Preferred Stock and will Scilex have any special rights as a holder of such preferred stock? |

| A: | The Proposed Charter, if adopted, will authorize the issuance by New Semnur of up to 45,000,000 shares of preferred stock and the New Semnur Certificate of Designations will designate a series of such preferred stock of New Semnur as the “Series A Preferred Stock” and the number of shares of New Semnur Series A Preferred Stock authorized thereunder shall not exceed 6,000,000. The New Semnur Certificate of Designations will set forth the powers, rights, preferences, qualifications, limitations and restrictions of the New Semnur Series A Preferred Stock. |

The New Semnur Series A Preferred Stock will be issued only to Scilex (as the sole holder of Semnur Preferred Stock) upon the closing of the Business Combination and is not convertible into shares of New Semnur Common Stock. However, the holders of New Semnur Series A Preferred Stock will have rights, preferences and privileges that are senior, or in addition, to the rights, preferences and privileges of the holders of New Semnur Common Stock, including the right to receive, in the event of a change of control, liquidation dissolution or winding up of New Semnur, a preference amount out of the assets available for distribution to stockholders before any distribution can be made to holders of New Semnur Common Stock. The preference amount is $10.00 per share (subject to adjustment as set forth in the New Semnur Certificate of Designations). If the New Semnur Board declares or pays a dividend on the New Semnur Common Stock, the holders of the New Semnur Series A Preferred Stock will participate, on a deemed as-converted-to-commonstock basis, in such dividend with the holders of New Semnur Common Stock. The holders of New Semnur Series A Preferred Stock will have certain voting rights over New Semnur corporate actions (including, among others, any change to the shares of New Semnur Series A Preferred Stock into cash or other property, the issuance of equity