Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 199

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 199
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 the same extent that the holder would have participated therein if the holder had held the number of shares of our Common Stock the holder acquired upon each such exercise immediately before the date on which a record is taken for such issuance or sale of Purchase Rights or Distribution.

#### Fundamental Transactions
The Exchange Warrants prohibit us from entering into specified fundamental transactions unless the successor entity (subject to certain exceptions) assumes all of our obligations under the Exchange Warrants under a written agreement before the transaction is completed and the successor entity is a publicly traded company.

Upon specified corporate events, an Exchange Warrant holder will thereafter have the right to receive upon an exercise such shares, securities, cash, assets or any other property whatsoever which the holder would have been entitled to receive upon the happening of the applicable corporate event had the Exchange Warrant been exercised immediately prior to the applicable corporate event.

When there is a transaction involving specified changes of control, holders of Exchange Warrants will have the right to force us to repurchase such holder’s Exchange Warrant for a purchase price in cash equal to the Black Scholes value, as calculated under the terms of the Exchange Warrants, of the then unexercised portion of the Exchange Warrant.

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#### DESCRIPTION OF THE SEPTEMBER 2025 WARRANTS
The following summary of certain terms and provisions of the September 2025 Warrants is not complete and is subject to, and qualified in its entirety by, the provisions of the September 2025 Warrants. The form of September 2025 Warrant is filed as an exhibit to the registration statement of which this prospectus forms a part.

#### Shares Issuable on Exercise
We are registering the offer and sale from time to time by the September 2025 Warrant Holders of up to an aggregate of 275,000 September 2025 Shares covered by this prospectus, which shares are issuable upon exercise in full of all of the September 2025 Warrants.

#### Exercise Price
The September 2025 Warrants are exercisable at an exercise price equal to $20.00 per share of Common Stock.

The exercise price is subject to adjustment for any stock split, stock dividend, stock combination, recapitalization or similar event. The exercise price is also subject to full-ratchet adjustment in connection with a subsequent offering at a per share price less than the exercise price then in effect. The September 2025 Warrants also provide for a voluntary adjustment to the exercise price, subject to certain conditions set forth