Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 438

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 438
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ole payment due thereunder upon prepayment shall be waived. On September 30, 2025, the Company partially exercised the option and repurchased 3,130,000 Penny Warrants for $13,000,000.

Oramed shall have the right to terminate the Option Agreement if the Company (i) fails to make certain payments thereunder or (ii) has not exercised the Option by the applicable dates set forth therein.

Pursuant to the terms of the Option Agreement, the Company has agreed that, if the Option Agreement is terminated pursuant to the terms set forth therein, the Company will use commercially reasonable efforts to obtain the approval of its stockholders to permit the issuance of shares of Common Stock in excess of the Stockholder Approval Cap (as defined therein) upon exercise of any Penny Warrants retained by Oramed following such termination, subject to the terms and conditions set forth therein.

The foregoing summary of the Option Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Option Agreement, a copy of which is filed as an exhibit to the registration statement of which this prospectus forms a part.

Shah Consulting Agreement

On September 22, 2025, in connection with the previously announced Semnur Business Combination, Jaisim Shah resigned as a director of the Company, effective immediately.

On September 22, 2025, in connection with Mr. Shah’s resignation, Inform LLC, a company affiliated with Mr. Shah, and the Company entered into a consulting agreement (the “Shah Consulting Agreement”). Pursuant to the Shah Consulting Agreement, Inform LLC will provide certain consulting services to the Company for a period of five years from the date of the Consulting Agreement in exchange for a monthly fee of $50,000.

Vivasor Secondary Stock Purchase

On December 5, 2025, the Company entered into a Share Transfer Agreement with EAR SPV LLC, a Delaware corporation (“EAR SPV”) and VHC, pursuant to which, among other things, EAR SPV agreed to sell, and the Company agreed to buy, all 6,101,468 shares of VHC’s Series A-1 Preferred Stock, par value $0.00001 per share held by EAR SPV, for an aggregate purchase price of $9,000,000. Dr. Ji, our current Chief Executive Officer, President and Chairperson, currently serves as the Chief Executive Officer of VHC.

Executive Officer and Director Compensation

Please see the sections titled