Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 184

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 184
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 and (iii) $41.4 million from the exercise of the November 2025 Warrants, assuming, in each case, the exercise in full of the respective warrants for cash, but will not receive any proceeds from the sale of the shares of our Common Stock issuable upon such exercise. The Exchange Warrants, September 2025 Warrants, and November 2025 Warrants are currently exercisable by the holders thereof for the purchase of Common Stock at a price of $40.00 per share, $20.00 per share, and $29.00 per share, respectively. On December 12, 2025, the closing price for our Common Stock was $16.63 per share. If the price of our Common Stock remains below the exercise price of the Exchange Warrants, September 2025 Warrants, or November 2025 Warrants, we believe the respective holders of such warrants will be unlikely to cash exercise their warrants, resulting in little or no cash proceeds to us.

We expect to use any proceeds from the exercise of the Exchange Warrants, September 2025 Warrants, and November 2025 Warrants for cash for working capital and general corporate purposes, which may include capital expenditures, commercial, research and development expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments, business combinations and the repayment, refinancing, redemption or repurchase of indebtedness or capital stock, although we believe we can fund our operations with cash on hand. However, we have not designated any specific uses and have no current agreement with respect to any acquisition or strategic transaction. As of the date of this prospectus, we cannot specify with certainty all of the particular uses, and the respective amounts we may allocate to those uses, for any proceeds we receive from the exercise of the Exchange Warrants, September 2025 Warrants, and November 2025 Warrants. Accordingly, we will retain broad discretion over the use of these proceeds. Pending our use of the proceeds as described above, we may invest such proceeds in interest-bearing instruments or use a significant portion of the net proceeds to purchase additional bitcoin, Ethereum, BNB, Doge, and/or other blockchain-linked cryptocurrencies in accordance with our treasury strategy. Cryptocurrency is a highly volatile asset. Cryptocurrency does not pay interest, but if management determines to stake the cryptocurrency tokens in treasury, rewards can be earned on cryptocurrency. The ability to generate a return on investment from the net proceeds will depend on whether there is appreciation in the value