Company: SCLXW
Filing Date: 2025-11-04
Form Type: 424B3
Source: 0001193125-25-264325
Chunk: 3

Company: Scilex Holding Co
Filing Date: 2025-11-04
Form: 424B3
Chunk 3
---
 or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 1.01. Entry into a Material Definitive Agreement. Datavault License Agreement On November 3, 2025, Scilex Holding Company (the “Company”) entered into a License Agreement (the “License Agreement”) with Datavault AI Inc. (“Datavault”). Under the License Agreement, among other things, Datavault granted us a worldwide, exclusive, non-transferable license, with the right to sublicense, under the patents and know-how specified therein to among other things, research, develop, make, have made, use, sell, have sold, offer for sale, import, export, register, market, promote, advertise, commercialize and distribute the Proprietary Materials (as defined in the License Agreement, including a suite of patents related to Datavault’s data platforms and any products created therefrom within the Target Market (as defined below). With respect to the foregoing, “Target Market” shall mean industries including biotechnology, biopharmaceutical, genetic, diagnostic, and data-related industries, and any markets relating to the generation, use, storage, analysis, tokenization, and exchange of DNA, genetic, diagnostic, and therapeutic data or materials. The License Agreement expires upon the expiry of the patents underlying the Proprietary Materials, at which point the license shall become perpetual, irrevocable, non-exclusive and royalty-free. The License Agreement is subject to earlier termination if, among other things: (i) either party ceases to exist or becomes insolvent, (ii) either party commits a material breach of the License Agreement, (iii) the Company fails to make any required payment to Datavault that is not cured within 15 days, or (iv) the Company does not achieve and maintain annual royalty payments to Datavault of a minimum of $1,000,000 after 24 months following the date of the License Agreement. As consideration for the license under the License Agreement, the Company agreed to pay Datavault (a) a non-refundable license fee of $10,000,000, payable in four equal installments of $2,500,000 on or before the last day of each fiscal quarter, beginning on December 31, 2025, (b) subject to achievement of certain net sales for the Licensed Product, up to an aggregate of $2,550,000,000, and (c)