Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115088
Chunk: 29

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 29
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 “Notice”) from Nasdaq notifying the Company that, because the closing bid price for its Common Stock has been below $1.00 per share for 30 consecutive business days, it did not comply with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share (the “Minimum Bid Price Requirement”), and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice also indicated that the Company had 180 calendar days, or until April 30, 2025 (the “Compliance Period”), to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A).

On March 19, 2025 at a special meeting of our stockholders, our stockholders approved the amendment of our Certificate of Incorporation to effect a reverse stock split within a range of 1-for-14 to 1-for-50, with such ratio to be determined ultimately by the Board. On April 3, 2025, the Board approved the Reverse Stock Split ratio of 1-for-35. The Company effected the Reverse Stock Split on April 15, 2025 in order to demonstrate compliance with Nasdaq’s Minimum Bid Price Requirement prior to the end of the Compliance Period, in accordance with Nasdaq rules.

As a result of the Reverse Stock Split, the Company’s outstanding Common Stock was reduced from approximately 243,312,885 shares to approximately 6,951,671 shares, based on the number of shares of Common Stock outstanding as of April 14, 2025. Unless indicated otherwise, all share and per share information presented in this prospectus reflects the completion of the Reverse Stock Split. The Company’s historical financial statements included in this prospectus do not reflect the Reverse Stock Split. No fractional shares were issued in connection with the Reverse Stock Split. Instead, each fractional share remaining after completion of the reverse share split that was less than a whole share was rounded down and canceled in exchange for an amount in cash (without interest or deduction) equal to the fraction of one share to which such stockholder would otherwise be entitled multiplied by the closing price of the Common Stock on The Nasdaq Capital Market on the last trading day immediately preceding the effectiveness of the Reverse Stock Split. The Reverse Stock Split was applied to all