Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 156

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 156
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 of even multiples of 100 shares.

The Reverse Stock Split was effected to regain compliance with Nasdaq’s Minimum Bid Price Requirement of at least $1.00 per share.
Although we have regained compliance with such requirement, there can be no assurance that we will maintain compliance with such requirement, or that we will not become deficient with respect to other Nasdaq listing requirements following, or as a
result of, the Reverse Stock Split.

We and/or our directors and officers may be subject to litigation or other actions as a result of or relating to our internal investigation and our failure to timely file the Q3 Form 10-Qwith the SEC and an unfavorable outcome with respect to such matters could harm our business, financial condition and results of operations.

As previously disclosed, the audit committee of the Board (the “Audit Committee”) commenced an investigation
with the assistance of independent counsel with respect to an evaluation of the following contracts: (i) the Commitment Side Letter (the “Commitment Letter”) entered into with FSF 33433 LLC (“FSF”) (a copy of which was filed
with the SEC as an exhibit to our Current Report on Form 8-K filed on June 12, 2024), (ii) a distribution agreement entered into with Endeavor Distribution LLC (“Endeavor”) in June 2024, and
(iii) the Satisfaction Agreement entered into with FSF and Endeavor (a copy of which was filed with the SEC as an exhibit to our Current Report on Form 8-K filed on September 18, 2024). The
investigation relates to the accounting treatment of such contracts and related matters.

Failure to comply with applicable laws or
regulations, as interpreted and applied, or our reporting obligations with the SEC could have a material adverse effect on our reputation, the price of its securities and its business, financial condition and results of operations. We cannot predict
the outcome of the above-referenced matters. Our management may be required to devote significant time and attention to these matters. An unfavorable outcome could have a material adverse impact on our financial position, results of operations or
liquidity or the market for its securities, and could subject we and/or our directors and officers to litigation or other actions from third parties or regulatory bodies related to the above-referenced matters.

As a result of our failure to timely file the Q3 Form 10-Q,we are currently ineligible to file new short form registration statements on Form S-3,which may impair our ability to raise capital