Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 3

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 3
---
 Agreement”).

Our registration of the
Resale Shares and the Private Warrants covered by this prospectus does not mean that the Selling Securityholders will offer or sell any of the Resale Shares or the Private Warrants. The Selling Securityholders may sell the Resale Shares and the
Private Warrants covered by this prospectus in a number of different ways and at varying prices. For additional information on the possible methods of sale that may be used by the Selling Securityholders, you should refer to the section of this
prospectus titled “Plan of Distribution” beginning on page 260 of this prospectus.

We will not receive any of the
proceeds from the resale of the Resale Shares or the Private Warrants sold by the Selling Securityholders. We will receive up to $80.0 million from the exercise of the SPAC Warrants, assuming the exercise in full of all of the SPAC Warrants for
cash, but not from the sale of the shares of Common Stock issuable upon such exercise. We believe the likelihood that warrantholders will exercise their SPAC Warrants, and therefore the amount of cash proceeds that we would receive, is dependent
upon the market price of our Common Stock. If the market price for our Common Stock is less than $402.50 per whole share, we believe the warrantholders will be less likely to exercise their SPAC Warrants. On May 5, 2025, the closing price
of our Common Stock on the Nasdaq Capital Market was $5.43 per share. In the event the market price of our Common Stock is below the exercise price of our SPAC Warrants, we are unlikely to receive any proceeds from the exercise of our SPAC Warrants
in the near future, if at all. See the section of this prospectus titled “Risk Factors — Risks Related to Ownership of our Common Stock — The SPAC Warrants may never be in the money, they may expire worthless and the terms of the SPAC Warrants may be amended in a manner adverse to a holder if holders of a majority of the then-outstanding SPAC Warrants approve of such amendment.”

The securities being offered in this prospectus represent a significant percentage of our outstanding Common Stock. As a result, significant
near-term resale of shares of our Common Stock pursuant to this prospectus could have a significant, negative impact on the trading price of our shares of Common Stock. This impact may be heightened by the fact that, as described above