Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 598

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 598
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 of $ 0.5378per share, for an aggregate consideration of approximately $ 8.1million, which was settled in Bitcoin. The investment in Datavault is accounted for as an equity security investment measured at fair value, with changes in the fair value recognized in unrealized gains and losses on equity investment in the period in which they occur. Fair value was determined based on quoted prices in active markets for identical securities, and the investment qualifies as an equity security with a readily determinable fair value, classified as a Level 1 financial instrument.

Datavault is required to file a preliminary proxy statement with the SEC within 25 days of the Initial Datavault Closing Date and use reasonable best efforts to obtain stockholder approval (i) to give full effect to the terms of the Datavault Pre-FundedWarrant, and (ii) with respect to an amendment to its certificate of incorporation to increase the number of shares of Datavault Common Stock authorized for issuance to up to 1.5billion (or such greater amount as is necessary to issue the Datavault Pre-FundedWarrant Shares to the Company).

A stockholder meeting to secure such approval must be held within 75 days of the Initial Closing Date, with additional meetings scheduled, if necessary, every four months thereafter until approval is obtained. Pursuant to the Datavault SPA, following Datavault’s receipt of the stockholder approval, Datavault will issue the Company the Datavault Pre-FundedWarrant to purchase 263,914,094shares of Datavault Common Stock (such shares, the “Datavault Pre-FundedWarrant Shares”) in exchange for an aggregate of approximately $ 141.9million, to be settled in Bitcoin. The exercise price of the Datavault Pre-FundedWarrant will be $ 0.0001per share. The Datavault Pre-FundedWarrant will be immediately exercisable upon issuance and will expire when exercised in full.

Digital Assets

On September 23, 2025, the Company entered into a securities agreement with Biconomy PTE Ltd (“Biconomy”), pursuant to which the Company sold to Biconomy an aggregate of 12,500,000Semnur Common Shares held by the Company for proceeds of $ 200.0million in Bitcoin.

In September 2025, the Company received Bitcoin in exchange for the sale of a portion of the shares of the Company’s majority owned subsidiary Semnur then held by the Company