Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 467

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 467
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 holders of the warrants reside, we will not be required to net cash settle or cash settle the warrant exercise, the warrants may have no value, the market for the warrants may be limited
and the warrants may expire worthless.

Warrantholders may elect to be subject to a restriction on the exercise of their warrants such
that an electing warrantholder would not be able to exercise their warrants to the extent that, after giving effect to such exercise, such holder (together with such holder’s affiliates) would beneficially own in excess of 9.8% of the Common
Stock outstanding immediately after giving effect to such exercise.

No fractional shares will be issued upon exercise of the warrants.
If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round up to the nearest whole number of shares of Common Stock to be issued to the warrantholder.

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Private Warrants

The Private Warrants are identical to the Public Warrants except that such Private Warrants are exercisable for cash (even if a registration
statement covering the issuance of the Common Stock issuable upon exercise of such warrants is not effective) or on a cashless basis, at the holder’s option, and will not be redeemable by us, in each case so long as they are still held by the
initial purchasers or their affiliates.

The foregoing summary of the terms and conditions of the SPAC Warrants does not purport to be
complete and is qualified in its entirety by reference to the copy of the specimen warrant certificate and the Warrant Agreement that are filed as an exhibit to the registration statement of which this prospectus forms a part.

Penny Warrants

In connection with the
closing of the transactions contemplated by the Scilex-Oramed SPA, we issued the Penny Warrants, having an exercise price of $0.01 per share, subject to adjustment as provided therein, to Oramed. As of September 30, 2025, of the 13,000,000
Penny Warrants initially issued to Oramed, warrants to purchase 6,500,000 shares of Common Stock have been exercised and warrants to purchase 3,370,000 shares of Common Stock remain outstanding, are currently exercisable (subject to the restrictions
on exercise under the Option Agreement) and will expire on the date that is the fifth anniversary of the issuance date. The remaining Penny Warrants are subject to repurchase by us