Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 590

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 590
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”) and (ii) 8,571shares of Common Stock. Pursuant to the SIPA, the Company paid the Cash Consideration and has agreed to issue Common Stock to the Sponsor contingent upon and following the occurrence of the Semnur Business Combination. The Purchased Interests converted automatically, on a one-for-onebasis, into one New Semnur Common Share upon the closing of the Semnur Business Combination pursuant to the terms of the Semnur Business Combination Agreement. On September 22, 2025, the requirement to deliver the shares was discharged pursuant to that certain Satisfaction and Discharge Agreement by and among the Company, Sponsor and Semnur. On July 22, 2025, Semnur entered into Amendment No. 2 to the Semnur Business Combination Agreement with Denali and Denali Merger Sub. Amendment No. 2 amends the Semnur Business Combination Agreement to, among other things, modify the definitions of the “Exchange Ratio” and “Merger Consideration” to facilitate the issuance of additional shares of common stock of Semnur prior to the closing of the Semnur Business Combination in connection with any potential private placement financing or for issuance to advisors and other service providers for services rendered and maintain the 1.25-to-1exchange ratio.

**4. Fair Value Measurements**

The following table presents the Company’s financial liabilities that are measured at fair value on a recurring basis and the level of inputs used in such measurements (in thousands):

|                                                   |     | September 30, 2025 |         |     |                                        |         |     |                                            |   |     |                                          |         |
|:--------------------------------------------------|:----|:-------------------|--------:|:----|:---------------------------------------|--------:|:----|:-------------------------------------------|:--|:----|:-----------------------------------------|--------:|
|                                                   |     | Balance            |         |     | Quoted Pricesin ActiveMarkets(Level 1) |         |     | SignificantOtherObservableInputs (Level 2) |   |     | Significant Unobservable Inputs(Level 3) |         |
| Assets                                            |     |                    |         |     |                                        |         |     |                                            |   |     |                                          |         |
| Equity investment                                 |     | $                  |  16,351 |     | $                                      |  16,351 |     | $                                          | — |     | $                                        |       — |
| Digital assets                                    |