Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 30

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 30
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 the net proceeds in the category of other working capital and general corporate purposes and investors will be relying on the judgment of our management
regarding the application of the proceeds of this offering.

The precise amount and timing of the application of these proceeds will
depend upon a number of factors, such as the timing and progress of our research and development efforts, our funding requirements and the availability and costs of other funds. As of the date of this prospectus, we cannot specify with certainty all
of the particular uses for the net proceeds to us from this offering. Depending on the outcome of our efforts and other unforeseen events, our plans and priorities may change and we may apply the net proceeds of this offering in different manners
than we currently anticipate.

The failure by our management to apply these funds effectively could harm our business, financial condition
and results of operations. Pending their use, we may invest the net proceeds from this offering in short-term, interest-bearing instruments. These investments may not yield a favorable return to our stockholders. We will not receive
any proceeds from the exercise of the Exchange Warrants, September 2025 Warrants, or November 2025 Warrants on a “cashless basis.”

We may 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 of Ethereum, bitcoin, BNB, Doge, and other blockchain-linked cryptocurrencies following our purchases of
such cryptocurrency with the net proceeds from this offering by the Company and whether the Company is successful in pursuing other strategies to create income streams or otherwise generate funds using its cryptocurrency holdings. Future
fluctuations in Ethereum’s, bitcoin’s, BNB’s, Doge’s, and other blockchain-linked cryptocurrencies’ trading prices may result in our converting cryptocurrency purchased with the net proceeds of this offering into cash
with a value substantially below the net proceeds from such an offering.

21

Significant holders or beneficial holders of our Common Stock may not be permitted to exercise the Exchange Warrants, September 2025 Warrants, or November 2025 Warrants.

The terms of the Exchange Warrants, September 2025
Warrants, and November