Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 43

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 43
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 that an event
constituting an event of default has occurred or is continuing.

The Oramed Note and the Tranche B Notes contain certain customary events
of default, including, without limitation, a cross-default to other specified indebtedness or any other indebtedness involving an obligation of a certain amount, a failure in payment of principal, as well as any bankruptcy, insolvency,
reorganization event. The Oramed Note also contains additional events of default with respect to certain events relating to our obligations under the Oramed RRA and relating to (i) the warrants to purchase up to 13,000,000 shares of Common
Stock, having an exercise price of $0.01 per share, subject to adjustment as provided therein (such warrants, the “Penny Warrants”) that we issued to Oramed pursuant to the Scilex-Oramed SPA (of which

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6,500,000 of such warrants remain unexercised), (ii) the warrants to purchase up to 114,286 shares of Common Stock, with an exercise price of $402.50 per whole share (the “Transferred
Warrants”), that we transferred to Oramed pursuant to the Scilex-Oramed SPA (which were subsequently repurchased by us and cancelled) and/or (iii) the shares of Common Stock underlying the Penny Warrants or Transferred Warrants, in each
case as more fully set forth in the Oramed Note.

In addition, failure to comply with the covenants under the Oramed Note could result in
an event of default. The events of default include, among others, a change of control of our company. Upon an event of default, subject to notice requirements in the case of certain events of default, all amounts outstanding under the Oramed Note
may become immediately due and payable. We may not have sufficient funds or may be unable to arrange for additional financing to repay such indebtedness or to make any accelerated payments, and Oramed could seek to enforce its security interests in
the collateral securing such indebtedness or other remedies available to it under the Oramed Note or as provided by applicable law. Oramed could also seek to enforce the guaranty under the Subsidiary Guarantee entered into by us and each of our
subsidiaries, dated as of September 21, 2023, to carry out our payment obligations under the Oramed Note. Any failure by us to comply with the obligations