Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 29

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 29
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 the warrants to purchase shares of Common Stock, 
 with an exercise price of $1.20 per share;                                                                      |

| • |     | 3,370,000 shares of Common Stock issuable upon the exercise of the warrants to purchase shares of Common Stock, 
 with an exercise price of $0.01 per share;                                                                      |

| • |     | 500,000 shares of shares of Common Stock issuable upon the exercise of the warrants to purchase shares of Common 
 Stock, with an exercise price of $40.00 per share;                                                               |

| • |     | 275,000 shares of shares of Common Stock issuable upon the exercise of the warrants to purchase shares of Common 
 Stock, with an exercise price of $20.00 per share; and                                                           |

| • |     | 1,428,946 shares of shares of Common Stock issuable upon the exercise of the warrants to purchase shares of 
 Common Stock, with an exercise price of $29.00 per share.                                                   |

20

RISK FACTORS

Investing in our securities involves a high degree of risk. Before making an investment decision, you should consider carefully the following risk factors, as well as the other information set forth in this prospectus, including matters addressed in the section of this prospectus titled “Cautionary Note Regarding Forward-Looking Statements.” If any of these risks actually occur, it may materially harm our business, financial condition, liquidity and results of operations. As a result, the market price of our securities could decline, and you could lose all or part of your investment. Additionally, the risks and uncertainties described in this prospectus, any prospectus supplement, any post-effective amendment or in any document incorporated by reference herein or therein are not the only risks and uncertainties that we face. We may face additional risks and uncertainties that are not presently known to us, or that we currently deem immaterial. The following discussions should be read in conjunction with our financial statements and the notes to the financial statements included therein.

Risks Related to this Offering

We will have broad discretion in the use of the net proceeds from this offering and may not use them effectively.

If and to the extent any
of the Exchange Warrants, September 2025 Warrants, or November 2025 Warrants are exercised for cash, we currently intend to use the net proceeds from this offering pursuant to such exercises for working capital and general corporate purposes,
including repayment of our indebtedness. We will have broad discretion in the application of