Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 497

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 497
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 premium of 10% of the principal amount being redeemed, plus all accrued and unpaid interest in respect of such redeemed principal amount.

The Company elected the fair value option for the Convertible Debentures and recorded the changes in the fair value within the consolidated statements of operations and comprehensive loss at the end of each reporting period. Pursuant to the Yorkville SPA, the Company issued additional Convertible Debentures in an aggregate principal amount of $ 15.0 million in April 2023 for $ 14.4 million in net cash proceeds. In April 2023, Yorkville elected to convert $ 5.0 million of the outstanding principal and accrued interest of the first Convertible Debentures issued to Yorkville, resulting in the issuance of 18,069 shares of Common Stock at a conversion price of $ 280.00 per share and reducing the outstanding Convertible Debentures fair value balance by $ 7.7 million. The Company repaid $ 4.4 million of the Convertible Debentures during the year ended December 31, 2024. Interest expense related to the Convertible Debentures and included in the changes in fair value was $ 35.0 thousand and $ 0.7 million for the years ended December 31, 2024 and 2023, respectively.

The following table provides a summary of the changes in the balance and the estimated fair value of the Convertible Debentures (in thousands):

|                                                |     | December 31,2024 |        |   |
|:-----------------------------------------------|:----|:-----------------|-------:|:--|
| Ending Balance as of December 31, 2023         |     | $                |  4,340 |   |
| Repayment of Convertible Debentures            |     |                  | (4,375 | ) |
| Change in fair value of Convertible Debentures |     |                  |     35 |   |
| Ending Balance as of December 31, 2024         |     | $                |      — |   |

Revolving Facility

On June 27, 2023, Scilex Pharma entered into the eCapital Credit Agreement, pursuant to which the Lender shall make available the Revolving Facility in an aggregate principal amount of up to $ 30.0 million. The Facility Cap may, at the request of Scilex Pharma and with the consent of the Lender, be increased in increments of $