Company: SCLXW
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001193125-25-039223
Chunk: 23

Company: Scilex Holding Co
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 23
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 Pharmaceuticals Inc. Amended and Restated 2017 Equity Incentive Plan (the “2017 Plan”), our 2019 Stock Option Plan, as amended (the “2019 Plan”), our 2022 Equity Incentive Plan,
as amended (the “2022 Plan”), our 2022 Employee Stock Purchase Plan (the “ESPP”) and our 2023 Inducement Plan (the “Inducement Plan”, and together with the 2017 Plan, the 2019 Plan, the 2022 Plan and the ESPP, the
“Equity Plans”), including the price per share covered by each outstanding award and the number of shares covered by each outstanding award, will be proportionally adjusted to maintain their economic value, subject to adjustments for any
fractional shares as determined in accordance with the terms thereof. In addition, the total number of shares of the Common Stock that may be the subject of future grants under the Equity Plans, as well as any plan limits on the size of such grants,
will be adjusted and proportionately decreased as a result of the Reverse Stock Split. Our Board will make such adjustments to the Equity Plans, which determination shall be final, binding and conclusive.

Effects of the Reverse Stock Split on Voting Rights.Proportionate voting rights and other rights of the holders
of the Common Stock and the Series A Preferred Stock would not be affected by the Reverse Stock Split (other than as a result of the treatment of fractional shares). For example, a holder of 1% of the voting power of the outstanding Common Stock
immediately prior to the effective time of the Reverse Stock Split would continue to hold 1% of the voting power of the outstanding Common Stock after the Reverse Stock Split (other than as a result of the treatment of fractional shares).

Effects of the Reverse Stock Split on Authorized Share Capital.The total number of shares of capital stock that
we are authorized to issue will not be affected by the Reverse Stock Split and will remain at 785,000,000 shares, consisting of 740,000,000 shares of Common Stock and 45,000,000 shares of Preferred Stock.

Effects of the Reverse Stock Split on the Number of Shares of Common Stock Available for Future Issuance.By
reducing the number of shares outstanding without reducing the number of shares of authorized but unissued Common Stock, the Reverse Stock Split will increase the number of available but unissued shares. The Board believes the increase is
appropriate for use to fund the future operations of the Company