Company: SMNR
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001213900-25-044889
Chunk: 89

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-05-16
Form: 10-Q
Item: Part I, Item 2
Chunk 89
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 Semnur’s certificate of incorporation or bylaws that is deemed necessary
or advisable by Semnur for purposes of effecting the Business Combination; and (iv) vote (or execute and return an action by written consent),
or cause to be voted at any such meeting of Semnur’s stockholders (or validly execute and return and cause such consent to be granted
with respect to), all of its shares of Semnur common stock against any other action that would reasonably be expected to (a) impede, interfere
with, frustrate, delay, postpone or adversely affect the Business Combination, (b) result in a breach of any covenant, representation
or warranty or other obligation or agreement of Semnur under the Merger Agreement or (c) result in a breach of any covenant, representation
or warranty or other obligation or agreement of Scilex contained in the Stockholder Support Agreement. 

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In connection with the execution
and delivery of the Merger Agreement, the sponsor and Scilex entered into a Sponsor Interest Purchase Agreement (the “Sponsor Interest
Purchase Agreement”) dated August 30, 2024 (the “Signing Date”). Pursuant to the Sponsor Interest Purchase Agreement,
Scilex agreed to purchase 500,000 Class B ordinary shares, par value $0.0001 per share (the “Purchased Interests”), of the
Company that are currently held by 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) 300,000 shares of common stock, par value $0.0001 per share, of
Scilex (the “Scilex Shares”). Pursuant to the Sponsor Interest Purchase Agreement, Scilex has paid the Cash Consideration
on the Signing Date and has agreed to issue the Scilex Shares to the sponsor contingent upon and following the occurrence of the Effective
Time. The Purchased Interests will convert automatically, on a one-for-one basis, into one New Semnur Common Share at the effective time
of the Domestication pursuant to the terms of the Merger Agreement. The Merger Agreement contemplates that, at or prior to the closing
of the Merger, the Company and Scilex will enter into an amended and restated registration rights agreement (the “Registration Rights
Agreement”), which, among other things, will govern the