Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115054
Chunk: 508

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 508
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 31, 2024 and 2023, respectively.

Valuation Assumptions

The Company calculates the fair value of stock options and ESPP awards granted to employees and nonemployees using the Black-Scholes option-pricing method. The Black-Scholes option-pricing method requires the use of subjective assumptions.

The following assumptions were used in the Black-Scholes options pricing model to estimate stock-based compensation on the date of grant for stock options and ESPP:

|                               |     | Year EndedDecember 31, 2024 |                |
|:------------------------------|:----|:----------------------------|---------------:|
| Stock options:                |     |                             |                |
| Expected dividend yield       |     |                             |          0.00% |
| Expected volatility           |     |                             | 72.00%–119.08% |
| Risk-free interest rate       |     |                             |    3.79%–4.71% |
| Term of options (in years)    |     |                             |        3.0–6.3 |
| Employee stock purchase plan: |     |                             |                |
| Expected dividend yield       |     |                             |          0.00% |
| Expected volatility           |     |                             |        129.30% |
| Risk-free interest rate       |     |                             |          5.39% |
| Expected life (in years)      |     |                             |           0.50 |

Semnur 2024 Stock Option Plan

Concurrent with the signing of the Semnur Business Combination Agreement, the Board, the Company (as the sole stockholder of Semnur) and the board of directors of Semnur approved the 2024 Stock Option Plan (“Semnur 2024 Plan”). Under the Semnur 2024 Plan, 40,000,000 shares of Semnur Common Stock were reserved for future issuance and nonstatutory stock options (“NSOs”) to purchase the same amount of Semnur Common Stock were granted to certain executive officers of Semnur. The NSOs were granted on August 30, 2024 and expire on August 30, 2034. No expense was recorded in connection with the NSOs as of December 31, 2024, as until the date on which all payments and all obligations under the Oramed Note have been paid in full in cash, such options will not be or become exercisable, eligible for