Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115088
Chunk: 269

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 269
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 notice to the other party if the other party (a) becomes insolvent, (b) ceases to function as a going concern, (c) is convicted of or pleads guilty to a charge of violating any law relating to either party’s business, or (d) engages in any act which materially impairs goodwill associated with SEMDEXA or materially impairs the terminating party’s trademark or trade name. In addition, Lifecore may terminate the agreement if (i) we fail to pay past due invoices upon 30 days’ written notice, or (ii) we reject or fail to respond to a major change or minor change proposed by Lifecore that does not change SEMDEXA’s written and approved acceptance criteria.

The Lifecore Master Services Agreement contains customary reciprocal indemnification obligations for Lifecore and Semnur.

The foregoing is a summary of the material terms of the Lifecore Master Services Agreement and the amendments thereto in the forms filed as exhibits to the registration statement of which this prospectus is a part. You should read the form of the agreement and its amendments for a complete understanding of all of their respective terms.**

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**Semnur Acquisition

On March 18, 2019, Legacy Scilex acquired Semnur pursuant to the Semnur Acquisition Agreement, Sigma Merger Sub, the Semnur Equityholders’ Representative, and for limited purposes, Sorrento. Pursuant to the Semnur Acquisition Agreement, Sigma Merger Sub merged with and into Semnur (the “Semnur Acquisition”), with Semnur surviving as Legacy Scilex’s wholly owned subsidiary.

Pursuant to the Semnur Acquisition Agreement, and upon the terms and subject to the conditions contained therein, Legacy Scilex also agreed to pay former holders of Semnur’s capital stock (the “Semnur Equityholders”) up to $280.0 million in aggregate contingent cash consideration based on the achievement of certain milestones (which amount is expected to be charged back to Semnur through an intercompany arrangement), comprised of a $40.0 million payment that will be due upon obtaining the first approval of a NDA of a Semnur product by the FDA and additional payments that will be due upon the achievement of certain amounts of net sales of Semnur products, as follows: (i) a $20.0 million payment upon the achievement of $100.0 million in cumulative net sales of a Semn