Company: SCLXW
Filing Date: 2025-04-15
Form Type: 8-K
Source: 0001193125-25-080856
Chunk: 2

Company: Scilex Holding Co
Filing Date: 2025-04-15
Form: 8-K
Item: Item 5.03
Chunk 2
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 is intended for the Company to regain compliance with the minimum bid price requirement of $1.00 per share of Common Stock for continued listing on the Nasdaq Capital Market. The Reverse Stock Split was effective at 12:01 a. m., Eastern Time, on April 15, 2025, and the Common Stock is expected to begin trading on a Reverse Stock Split-adjusted basis on the Nasdaq Capital Market at the opening of the market on April 15, 2025. The trading symbol for the Common Stock will remain “ SCLX,” and the new CUSIP number of the Common Stock following the Reverse Stock Split is 80880W205. The CUSIP number for the Company’s publicly traded warrants will not change.

The Reverse Stock Split affected all record holders of the Common Stock uniformly and did not affect any record holder’s percentage ownership interest in the Company, except for de minimis changes as a result of the elimination of fractional shares. Holders of Common Stock who hold in “street name” in their brokerage accounts do not have to take any action as a result of the Reverse Stock Split. Their accounts will be automatically adjusted to reflect the number of shares owned. Stockholders of record will be receiving information from Continental Stock Transfer & Trust Company regarding their stock ownership following the Reverse Stock Split and cash in lieu of fractional share payments, if applicable.

In addition, the Reverse Stock Split will apply to the Common Stock issuable upon the exercise or conversion, as applicable, of the Company’s outstanding warrants, stock options and senior secured convertible notes, with proportionate adjustments to be made to the exercise or conversion prices in accordance with the applicable terms thereof. With respect to the Company’s publicly traded warrants trading under the symbol “ SCLXW,” every thirty-five (35) warrants outstanding immediately prior to the Reverse Stock Split will be exercisable for one share of Common Stock at an exercise price of $402.50 per share, which is thirty-five (35) times $11.50, the exercise price prior to the Reverse Stock Split. Furthermore, the number of shares of Common Stock available for issuance under the Company’s equity incentive plans will be proportionately adjusted for the Reverse Stock Split ratio, such that fewer shares will be subject to such plans.

The summary of the Certificate of Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Certificate of Amendment, a copy of which is attached hereto as Exhibit 3.1 and is incorporated herein by reference.