Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 201

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 201
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idend Stock and such certificate generally provided that the holders of such stock could become entitled to a pro rata portion of a number of shares of common stock, par value $0.00001 per share (the “Semnur
Common Stock”), of Semnur, as determined pursuant to the terms and conditions set forth in the Certificate of Designation (the “Spin-off Dividend”). Pursuant to the terms of the
Certificate of Designation, holders of Dividend Stock would not be entitled to any Spin-off Dividend if the Registration Date (as defined therein) did not occur on or before 11:59 p.m. Eastern time on
October 28, 2025 (the “Preferred Stock End Date”). The Board did not set a new Record Date or ever distribute the Dividend Stock, and accordingly the Dividend and the Spin-off Dividend were
not paid to any holders of our securities.

Should we decide in the future to do so, as a holding company, our ability to pay dividends on
our capital stock and meet other obligations depends upon the receipt of dividends or other payments from our operating subsidiaries. Further, our ability to pay dividends may be limited by covenants of any existing and future outstanding
indebtedness we or our subsidiaries incur.

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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read together with the consolidated financial statements and related notes thereto included elsewhere in this prospectus. In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ materially from these forward-looking statements as a result of certain factors. We discuss factors that we believe could cause or contribute to these differences below and elsewhere in this prospectus, including those set forth in the sections of this prospectus titled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements.”

Overview

We are an innovative
revenue-generating company focused on acquiring, developing and commercializing non-opioid management products for the treatment of acute and chronic pain. We believe that our innovative non-opioid product portfolio has the potential to provide effective pain management therapies that can have a transformative impact on patients’ lives. We target indications with high unmet needs and large
market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and are dedicated to advancing and improving patient outcomes.