Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 503

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 503
---
 in the fair value within the consolidated statements of operations and comprehensive loss at the end of each reporting period. As of December 31, 2024, the fair value of the Oramed Note was $ 12.2million, which is classified as debt, current in the consolidated balance sheet. F-30

The following table provides a summary of the changes in the balance and the estimated fair value of the Oramed Note (in thousands):

|                                                                                                                                    |     | December 31,2024 |         |   |
|:-----------------------------------------------------------------------------------------------------------------------------------|:----|:-----------------|--------:|:--|
| Ending Balance as of December 31, 2023                                                                                             |     | $                | 104,089 |   |
| Repayment of Oramed Note                                                                                                           |     |                  | (64,200 | ) |
| Conversion into Tranche B Notes                                                                                                    |     |                  | (25,000 | ) |
| Change in fair value of Oramed Note – recorded in the consolidated statements of operations                                        |     |                  |   3,589 |   |
| Change in fair value of Oramed Note – due to instrument-specific credit risk recorded as a component of other comprehensive income |     |                  |  (6,317 | ) |
| Ending Balance as of December 31, 2024                                                                                             |     | $                |  12,161 |   |

Commitment Letter On June 11, 2024, the Company entered into the Commitment Letter with FSF Lender, pursuant to which FSF Lender committed to provide the Company the FSF Loan in the aggregate amount of $ 100.0million. The Commitment Amount should be payable as follows: (i) $ 85.0million no later than the Outside Date, which is 70days following the date on which the Company received the FSF Deposit and (ii) the remaining $ 15.0million within 60 days following the Initial Closing. Pursuant to the Commitment Letter, FSF Lender provided the Company a non-refundableFSF Deposit in immediately available funds in the aggregate principal amount of $ 10.0million on the Deposit Date, which amount would be creditable towards the $ 85.0million required to be funded by FSF Lender at the Initial Closing. The Company received the FSF Deposit on June 18, 2024 and issued to FSF Lender the Deposit Warrant