Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115054
Chunk: 495

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 495
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 Company may redeem all the Public Warrants at a price of $ 0.01per warrant upon not less than 30 days’ prior written notice. If the Company calls the Public Warrants for redemption, the Company will have the option to require all holders that wish to exercise the Public Warrants to do so on a cashless basis. The Company will not be required to net cash settle the SPAC Warrants. The Public Warrants are equity-classified warrants and recognized in additional paid-incapital in the accompanying consolidated balance sheets. The Private Warrants are liability-classified warrants and are recognized as liabilities (refer to Notes 1 and 4). During the year ended December 31, 2023, the SPAC Warrants held by Sorrento were repurchased, and certain of such warrants transferred to Oramed, as a result of the Sorrento SPA (refer to Note 8). On September 20, 2024, the Company repurchased 4,000,000of the SPAC Warrants held by Oramed (refer to Note 7). Following the repurchase, these warrants were cancelled. As of December 31, 2024 and 2023, there were 5,467,692and 6,854,309Public Warrants outstanding, respectively. As of December 31, 2024 and 2023, there were 1,000,000and 3,613,383Private Warrants outstanding, respectively. Preferred Stock The Company is authorized to issue 45,000,000shares of preferred stock (the “Preferred Stock”) of which there are two series in total. Series A Preferred Stock As of December 31, 2024 and 2023, there were 29,057,097shares of Series A Preferred Stock outstanding. On September 21, 2023, the Series A Preferred Stock was repurchased and derecognized for accounting purposes. The Series A Preferred Stock is currently held as collateral for the Oramed Note. Series 1 Preferred Stock On October 27, 2024, the Board declared a stock dividend (the “Dividend”) consisting of an aggregate of 5,000,000shares (the “Dividend Stock”) of Series 1 Mandatory Exchangeable Preferred Stock, par value $ 0.0001per share (the “Series 1 Preferred Stock”), of the Company to record holders of certain of the Company’s securities as of the close of business on November 7