Company: SCLXW
Filing Date: 2025-07-23
Form Type: 424B3
Source: 0001193125-25-163077
Chunk: 92

Company: Scilex Holding Co
Filing Date: 2025-07-23
Form: 424B3
Chunk 92
---
 its “AQR” function for such hours, the average of the highest closing bid price and the lowest closing ask price
of any of the market makers for such security on such Trading Day as reported by OTC Markets Group Inc. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination, recapitalization or other similar
transaction during such period.

“VWAP Purchase” shall have the meaning assigned to such term in
.

“VWAP Purchase Confirmation” shall have the meaning assigned to
such term in .

“VWAP Purchase Commencement Time” means, with
respect to a VWAP Purchase made pursuant to , 9:30:01 a.m., New York City time, on the Trading Day immediately following the applicable VWAP Purchase Exercise Date, or such other time publicly announced by the
Trading Market as the official open (or commencement) of trading on the Trading Market on such Trading Day.

“VWAP Purchase Date” shall have the meaning assigned to such term in .

“VWAP Purchase Exercise Date” means, with respect to a VWAP Purchase made pursuant to
, the Trading Day on which the Investor receives, after 4:00 p.m. New York City time but prior to 6:30 p.m. New York City time on such Trading Day, a valid VWAP Purchase Notice for such VWAP Purchase in
accordance with this Agreement.

“VWAP Purchase Maximum Amount” means, with respect to a VWAP Purchase
made pursuant to , such number of shares of Common Stock equal to the lowest of: (a) 100% of the average daily trading volume in the Common Stock on the Trading Market (or, in the event the Common Stock is
then listed on an Eligible Market, 100% of the average daily trading volume in the Common Stock on such Eligible Market) for the five (5) consecutive Trading-Day period ending on (and including) the
Trading Day immediately preceding the applicable VWAP Purchase Exercise Date for such VWAP Purchase;

I-9

(b) the product (rounded up or down to the nearest whole number) obtained by multiplying (x) the daily trading volume in the Common Stock on the Trading Market (or an Eligible Market,
as applicable) on the applicable VWAP Purchase Exercise Date for such VWAP Purchase by (y) 0.40; and (c) the quotient (rounded up or down to the nearest whole number) obtained by dividing (