Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115095
Chunk: 31

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 31
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 Product outside of the United States in accordance with its own business judgment and in its sole and absolute discretion.

Promptly after the Effective Date, we are required to (i) facilitate an introduction between the Licensee and our contract manufacturer of the Gloperba Product (the “Gloperba CMO”) as of the Effective Date, and (ii) use reasonable efforts to cause such Gloperba CMO to accept a direct engagement with the Licensee for the manufacturing or supply of the Gloperba Product in finished dosage form. In addition, we agreed to appoint the Licensee as its exclusive distributor of the Gloperba Product in the entire world other than the United States during the Gloperba License Term.

The term of the Gloperba License Agreement commences on the Effective Date and continues until expiration of the last to expire Licensed Patents (as defined therein), unless earlier terminated (the “Gloperba License Term”).

Bid Price Deficiency & Reverse Split

On November 1, 2024, we received a letter (the “Notice”) from Nasdaq notifying the Company that, because the closing bid price for its Common Stock has been below $1.00 per share for 30 consecutive business days, it did not comply with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice also indicated that the Company had 180 calendar days, or until April 30, 2025 (the “Compliance Period”), to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A).

On March 19, 2025 at a special meeting of our stockholders, our stockholders approved the amendment of our Certificate of Incorporation to effect a reverse stock split within a range of 1-for-14 to 1-for-50, with such ratio to be determined ultimately by the Board. On April 3, 2025, the Board approved the Reverse Stock Split ratio of 1-for-35. The Company effected the Reverse Stock Split on April 15, 2025 in order to demonstrate compliance with Nasdaq’s Minimum Bid Price Requirement prior to the end of the