Company: SCLXW
Filing Date: 2025-08-21
Form Type: 424B3
Source: 0001193125-25-184626
Chunk: 8

Company: Scilex Holding Co
Filing Date: 2025-08-21
Form: 424B3
Chunk 8
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, 2023 and was not repaid on such date.

On June 30,
2023, the Debtors filed the Debtors’Emergency Motion for Entry of Interim and Final Orders (I)Authorizing the Debtors to (A)Obtain Junior Secured Superpriority Postpetition Financing and (B)Use Cash Collateral, (II)Granting Liens and Providing Claims with Superpriority Administrative Expense Status, (III)Modifying the Automatic Stay, (IV)Scheduling a Final Hearing, and (V)Granting Related Relief (the “DIP Motion”), seeking the Bankruptcy Court’s approval of the Junior DIP Facility (as defined below) and certain related relief.

Terms of the Junior DIP Facility

On July 5, 2023,
the Company and the Debtors executed that certain Debtor-in-Possession Term Loan Facility Summary of Terms and Conditions (the “Junior DIP Term Sheet”),
pursuant to which the Company (or its designees or its assignees) agreed to provide the Debtors with a non-amortizing super-priority junior secured term loan facility in an aggregate principal amount not to
exceed the sum of (i) $20,000,000 (the “Base Amount”), plus (ii) the amount of the commitment fee and the funding fee, each equal to 1% of the Base Amount, plus (iii) the amount of the DIP Lender Holdback (as defined in the
Interim DIP Order) (the “Junior DIP Facility”), subject to the terms and conditions set forth in the Junior DIP Term Sheet. The Junior DIP Term Sheet granted to the Company a right of first refusal to provide any debtor-in-possession financing during the course of the Chapter 11 Cases to the Debtors occurring after the date of the Interim DIP Order until the Chapter 11 Cases were
concluded.

The interest rate under the Junior DIP Facility was 12.00% per annum payable in kind on the first day of each month in arrears and on the DIP
Termination Date (as defined in the Junior DIP Term Sheet). Upon the occurrence and during the continuance of an event of default as defined in the Junior DIP Term Sheet, the interest rate on outstanding DIP Loans (as defined in the Junior DIP Term
Sheet) would increase by 2.00% per annum (payable in kind). The commitment fee and the funding fee described above became