Company: SMNR
Filing Date: 2025-06-11
Form Type: S-4/A
Source: 0001193125-25-139124
Chunk: 664

Company: Semnur Pharmaceuticals, Inc.
Filing Date: 2025-06-11
Form: S-4/A
Chunk 664
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 that it ranks senior to the New Semnur Series A Preferred Stock with respect to dividend rights or rights upon liquidation, dissolution or winding-up of New Semnur, or increase the authorized amount of any such other class or series; or (c) amend its certificate of incorporation or the New Semnur Certificate of Designations in any manner that adversely affects the holders of New Semnur Series A Preferred Stock.

Registration Rights

Pursuant to the Registration Rights Agreement to be entered into in connection with the closing of the Business Combination, certain stockholders of New Semnur will be able to demand that New Semnur register their registrable securities under certain circumstances and will each also have piggyback registration rights for these securities. In addition, following the Business Combination, New Semnur will be required to file and maintain an effective registration statement under the Securities Act covering the resale of all such registrable securities. The registration of these securities will enable the public sale of such securities, subject to certain contractual restrictions imposed by the Registration Rights Agreement and the Merger Agreement. The presence of these additional shares of common stock trading in the public market may have an adverse effect on the market price of New Semnur’s securities. See the section titled “The Merger Agreement— Certain Related Agreements and Arrangements — Amended and Restated Registration Rights Agreement” for further information.

Anti-takeover Matters in New Semnur’s Governing Documents and Under Delaware Law

Certain provisions of Delaware law, along with the Proposed Charter and the Proposed Bylaws, which will take effect immediately prior to the consummation of the Business Combination, all of which are summarized below, may have the effect of delaying, deferring or discouraging another person from acquiring control of New Semnur. These provisions are expected to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed, in part, to encourage persons seeking to acquire control of New Semnur to first negotiate with the New Semnur Board. However, these provisions could have the effect of delaying, discouraging or preventing attempts to acquire New Semnur, which could deprive New Semnur’s stockholders of opportunities to sell their shares of New Semnur Common Stock at prices higher than prevailing market prices.

Authorized but Unissued Capital Stock

The authorized but unissued shares of New Semnur Common Stock and New Semnur Preferred Stock are available for future issuance without stockholder approval, subject to any limitations imposed by the rules of the