Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 171

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 171
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 sale under all applicable state securities laws. Redemption of the outstanding SPAC Warrants could force the holders thereof to: (i) exercise such SPAC Warrants and pay the exercise price therefor at a
time when it may be disadvantageous for a holder to do so; (ii) sell such SPAC Warrants at the then-current market price when a holder might otherwise wish to hold such SPAC Warrants; or (iii) accept the nominal redemption price that, at
the time the outstanding SPAC Warrants are called for redemption, is likely to be substantially less than the market value of such Warrants.

In addition, we may redeem the SPAC Warrants (other than Private Warrants still held by the initial purchasers thereof) at any time after they
become exercisable and prior to their expiration for a number of shares of our Common Stock determined based on the fair market value of our Common Stock. The value received upon exercise of the SPAC Warrants (1) may be less than the value the
holders would have received if they had exercised their SPAC Warrants at a later time where the underlying share price is higher and (2) may not compensate the holders for the value of the SPAC Warrants.

The securities being offered in this prospectus represent a significant percentage of our outstanding Common Stock. The Selling Securityholders purchased the securities covered by this prospectus at different prices, some significantly below the current trading price of such securities, and some Selling Securityholders received such securities without any consideration, and may therefore make substantial profits upon resales.

The Selling Securityholders can sell, under this prospectus, up to 1,594,207 shares of
Common Stock representing approximately 22.8% of the shares of our Common Stock outstanding as of March 31, 2025 (assuming the exercise of all Private Warrants registered for sale hereby), and up to 1,402,955 Private Warrants. The Selling
Securityholders will be able to sell such shares of Common Stock and Private Warrants registered for resale hereunder for so long as the registration statement of which this prospectus forms a part is available for use.

The sale of all the securities being offered in this prospectus could result in a decline in the public trading price of our securities. Even
if the current trading price of our Common Stock is at or significantly below the price at which the Resale Shares were issued, the Selling Securityholders may have an incentive to sell because

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they will still profit on sales