Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 173

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 173
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 reasonable fees.

We will receive up to an aggregate of approximately $80.0 million from the exercise of the SPAC Warrants, assuming the exercise in full
of all of the SPAC Warrants for cash, but will not receive any proceeds from the sale of the shares of our Common Stock issuable upon such exercise. Each SPAC Warrant entitles the holder thereof to purchase 1/35 of a share of Common Stock at a price of $402.50 per whole share (provided that in no event shall the holder of any such warrants be entitled, upon the exercise of such warrants, to receive a
fractional interest in a share of Common Stock upon such exercise and the Company shall, upon such exercise, round up to the nearest whole number of shares of Common Stock to be issued to such holder). On May 5, 2025, the closing price for our
Common Stock was $5.43 per share. If the price of our Common Stock remains below $402.50 per whole share, we believe warrantholders will be unlikely to cash exercise their SPAC Warrants, resulting in little or no cash proceeds to us. We
currently intend to use the proceeds (if any) from the exercise of the SPAC Warrants for cash for working capital and general corporate purposes, which may include capital expenditures, commercialization expenditures, research and development
expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments, business combinations and the repayment, refinancing, redemption or repurchase of indebtedness or capital stock.

The precise amount and timing of the application of these proceeds will depend upon a number of factors, such as the costs and timing of
commercial and development activities, including, for example, conducting preclinical studies and clinical trials, our funding requirements and the availability and costs of other funds. Pending application of the proceeds as described above, we
intend to temporarily invest the proceeds in interest-bearing instruments.

105

DETERMINATION OF OFFERING PRICE

The offering price of the shares of Common Stock underlying the Private Warrants offered hereby is determined by reference to the exercise
price of the Private Warrants of $402.50 per whole share. The Public Warrants are listed on the Nasdaq Capital Market under the symbol “SCLXW”. On May 5, 2025, the closing price of our Public Warrants was $0.075 per Public
Warrant.

We cannot currently determine the price or prices at which shares of our