Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 300

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 300
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 (as defined below).

In March 2019, the Semnur Equityholders that received $55.0 million of shares of Common Stock (47,039,315 shares issued and 352,972
shares issuable, valued at $1.16 per share, in each case on a pre-Reverse Stock Split basis) (the “Stock Consideration”) were required to sign an Exchange and Registration Rights Agreement with
Legacy Scilex (as amended, the “Exchange Agreement”). Pursuant to the Exchange Agreement, and upon the terms and subject to the conditions contained therein, if within 18 months following the closing of the Semnur Acquisition, 100% of
the outstanding equity of Legacy Scilex had not been acquired by a third party or Legacy Scilex had not entered into a definitive agreement with respect to, or otherwise consummated, a firmly underwritten offering of Legacy Scilex capital stock on a
major stock exchange that met certain requirements, then holders of the Stock Consideration could collectively elect to exchange, during the 60-day period commencing the date that was the 18-month anniversary of the closing of the Semnur Acquisition (the “Share Exchange”), the Stock Consideration for shares of Sorrento’s common stock with a value of $55.0 million based on a
price per share of Sorrento’s common stock equal to the greater of (a) the 30-day trailing volume weighted

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average price of one share of Sorrento’s common stock as reported on The Nasdaq Stock Market LLC (“Nasdaq”) as of the consummation of the Share Exchange and (b) $5.55 (subject
to adjustment for any stock dividend, stock split, stock combination, reclassification or similar transaction) (the “Exchange Price”). Pursuant to an amendment to the Exchange Agreement entered into by Sorrento and the Semnur
Equityholders’ Representative on September 28, 2020, on October 9, 2020, Sorrento paid $55.0 million in cash to the Semnur Equityholders in lieu of issuing $55.0 million of shares of Sorrento’s common stock at the
Exchange Price.

The foregoing is a summary of the material terms of the Semnur Acquisition Agreement (including the amendment thereto) in
the forms filed as exhibits to the registration statement of which this prospectus is a part. You should read the Semnur Acquisition Agreement (including the