Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115088
Chunk: 198

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 198
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 remaining $15 million within 60 days following the Initial Closing. Pursuant to the Commitment Letter, FSF provided us the non-refundable FSF Deposit in immediately available funds in the aggregate principal amount of $10 million on June 18, 2024 (the “Deposit Date”), which amount will be creditable towards the $85 million required to be funded by FSF at the Initial Closing. On the Deposit Date, we issued to FSF a warrant (the “Deposit Warrant”) to purchase up to an aggregate of 3,250,000 shares of Common Stock (subject to adjustment for certain stock dividends, stock splits, or similar transaction), with an exercise price of $1.20 per share. The terms of the Deposit Warrant were not subject to adjustment as a result of the Reverse Stock Split. Subject to certain ownership limitations, the Deposit Warrant is immediately exercisable and will expire five years from the date of issuance.

In connection with the transactions contemplated by the Commitment Letter, we also entered into a letter agreement with FSF and FSF’s strategic consultant, IVI 66766 LLC (“IVI”), dated July 16, 2024, pursuant to which we agreed to reimburse the actual, reasonable and documented consulting fees incurred by FSF in connection with the preparation, negotiation and execution of the Commitment Letter and the definitive documents with respect to the transactions contemplated thereby, which fees were satisfied in full by us issuing to IVI a warrant to purchase up to an aggregate of 250,000 shares (on a pre-Reverse Stock Split basis) of Common Stock (the “Fee Warrant”) on July 16, 2024, with an exercise price of $1.20 per share (on a pre-Reverse Stock Split basis). In October 2024, the Fee Warrant was exercised by IVI.

The shares of Common Stock issuable upon exercise of the Deposit Warrant and the Fee Warrant were offered and sold by us in a private placement and were subsequently registered for resale on our registration statement on Form S-3 (the “Perigrove Form S-3 Registration Statement”) (which was initially filed with the SEC on July 18, 2024, and was declared effective on July 25, 2024 (File No. 333-280882)).

On September 17, 2024, we entered into the Satisfaction Agreement with FSF and Endeavor, pursuant to which the remaining obligations in respect of the FSF Deposit shall be