Company: SCLXW
Filing Date: 2025-08-21
Form Type: 424B3
Source: 0001193125-25-184626
Chunk: 11

Company: Scilex Holding Co
Filing Date: 2025-08-21
Form: 424B3
Chunk 11
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, which
was entered into on July 28, 2023 between the Company and the Debtors (the “Junior DIP Loan Agreement”), which agreement memorialized the terms of the Junior DIP Term Sheet.

After a hearing before the Bankruptcy Court on August 7, 2023, the Bankruptcy Court on August 7, 2023, entered a final order (the “Replacement
DIP Order”) approving a non-amortizing super-priority debtor-in-possession term loan facility in an aggregate principal
amount of $100,000,000 (the “Replacement DIP Facility”) provided to the Debtors by Oramed Pharmaceuticals Inc. on a final basis. The Replacement DIP Facility was to be used to, among other things, refinance the existing Senior DIP
Facility. The Replacement DIP Facility included certain milestones for the sale of the Company’s equity interests owned by the Debtors. The lender under the Replacement DIP Facility was permitted to use the loan to credit bid for the
collateral securing the Replacement DIP Facility (including the equity interests of the Company), subject to the terms therein. The Replacement DIP Order provided that the liens securing the Junior DIP Facility were junior to the liens securing the
Replacement DIP Facility and the Company was not permitted to exercise certain remedies until the payment in full of the Replacement DIP Facility (all as set forth in the Replacement DIP Order). Though junior to the Replacement DIP Facility, the
Company would still have been treated as a secured creditor with priority over other claimants in the Chapter 11 Cases.

5

We funded the Junior DIP Facility with cash on hand, including from a portion of the net proceeds from the
eCapital Credit Agreement that were distributed to the Company by the Company’s wholly owned subsidiary, Scilex Pharma. The Junior DIP Facility was terminated on September 21, 2023, pursuant to a
Pay-Off Letter.

On September 21, 2023, in connection with the securities purchase agreement entered into with Oramed Pharmaceuticals Inc., the Company and Sorrento
entered into and consummated the Equity Repurchase Transaction contemplated by the Stock Purchase Agreement, dated September 21, 2023, between the Company and Sorrento (the “Sorrento SPA”), pursuant to which, among other things, the
Company purchased from Sorrento (i) 1,716,245 shares of Common Stock, (ii) 29,