Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 448

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 448
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 the Common Stock issuable upon the exercise of the warrants is not current or if the
Common Stock is not qualified or exempt from qualification in the jurisdictions in which the holders of the warrants reside, we will not be required to net cash settle or cash settle the warrant exercise, the warrants may have no value, the market
for the warrants may be limited and the warrants may expire worthless.

Warrantholders may elect to be subject to a restriction on the
exercise of their warrants such that an electing warrantholder would not be able to exercise their warrants to the extent that, after giving effect to such exercise, such holder (together with such holder’s affiliates) would beneficially own in
excess of 9.8% of the Common Stock outstanding immediately after giving effect to such exercise.

No fractional shares will be issued upon
exercise of the warrants. If, upon exercise of the warrants, a holder would be entitled to receive a fractional interest in a share, we will, upon exercise, round up to the nearest whole number of shares of Common Stock to be issued to the
warrantholder.

Private Warrants

The Private Warrants are identical to the Public Warrants except that such Private Warrants are exercisable for cash (even if a registration
statement covering the issuance of the Common Stock issuable upon exercise of such warrants is not effective) or on a cashless basis, at the holder’s option, and will not be redeemable by us, in each case so long as they are still held by the
initial purchasers or their affiliates.

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The foregoing summary of the terms and conditions of the SPAC Warrants does not purport to
be complete and is qualified in its entirety by reference to the copy of the specimen warrant certificate and the Warrant Agreement that are filed as an exhibit to the registration statement of which this prospectus forms a part.

Penny Warrants

In connection with the
closing of the transactions contemplated by the Scilex-Oramed SPA, we issued the Penny Warrants, having an exercise price of $0.01 per share, subject to adjustment as provided therein, to Oramed. As of March 31, 2025, of the 13,000,000 Penny
Warrants initially issued to Oramed, warrants to purchase 6,500,000 shares of Common Stock have been exercised and warrants to purchase 6,500,000 shares of Common Stock remain outstanding, are currently exercisable and will expire on the date