Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115088
Chunk: 31

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 31
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, as more fully described in the section of this prospectus titled “ Management’s Discussion and Analysis of Financial Condition and Results of Operations — Emerging Growth Company.” We will remain an emerging growth company until the earlier of: (i) the last day of the fiscal year (a) following the fifth anniversary of the closing of the initial public offering of 13,800,000 Units (on a pre-ReverseStock Split basis) of Vickers consummated on January 11, 2021 (the “IPO”), (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to be a large accelerated filer, which means the market value of our common equity that is held by non-affiliatesequals or exceeds $700 million as of the last business day of our most recently completed second fiscal quarter; and (ii) the date on which we have issued more than $1.0 billion in non-convertibledebt securities during the prior three-year period. References herein to “emerging growth company” have the meaning associated with it in the JOBS Act. Summary Risk Factors Risks Related to our Limited Operating History, Financial Condition and Capital Requirements

| • |     | We currently have three commercial products, ZTlido, ELYXYB and GLOPERBA; but we are currently heavily dependent on the commercial success of ZTlido, as ELYXYB and GLOPERBA are in the initial stages of commercialization, and we may be unable to generate sufficient revenue to support our operations. |

| • |     | We have a limited operating history and have incurred significant losses since our inception. We anticipate that we will incur continued losses for the foreseeable future. |

| • |     | The terms of the Oramed Note and the Tranche B Notes place restrictions on our operating and financial flexibility. |

| • |     | We will require substantial additional funding, which may not be available to us on acceptable terms, or at all. |

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| • |     | We may not be able to generate sufficient cash to service our indebtedness and other liquidity needs. |

| • |     | Our recurring losses from operations, negative cash flows and substantial cumulative net losses raise substantial doubt about our ability to continue as a going concern. |

Risks Related to our Commercial Operations and Product Development

| • |     | We obtain, or historically have obtained, our commercial supply of certain of our