Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 580

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 580
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 defined in the Tranche B Notes).

On January 2, 2025, the Company entered into a deferral and consent letter with each of (i) Nomis Bay Ltd and BPY Limited (the “Nomis Bay Consent”), (ii) Oramed (the “Oramed Consent”) and (iii) 3i, LP (the “3i Consent” and, collectively with the Nomis Bay Consent and the Oramed Consent, the “Tranche B Consents”), respectively, pursuant to which the Tranche B Noteholders agreed to defer the Company’s obligation to make the First Amortization Payment until January 31, 2025 and then further to October 8, 2026. In consideration of such deferral, (i) SCLX JV delivered to the Tranche B Noteholders an aggregate of 142,855 shares of Common Stock held by SCLX JV, with a fair value of $ 2.2 million on the date of delivery, which was recorded as financing costs within the selling, general and administrative expenses in the Company’s unaudited condensed consolidated statements of operations, (ii) the Company paid an aggregate of $ 1.1 million in respect of a portion of the First Amortization Payment and related make-whole interest, and (iii) the Company entered into the Gloperba-Elyxyb Royalty Purchase Agreement (as described below).

The following table provides a summary of the changes in the balance and the estimated fair value of the Tranche B Notes (in thousands):

|                                                     |     | March 31,2025 |        |   |
|:----------------------------------------------------|:----|:--------------|-------:|:--|
| Ending Balance as of December 31, 2024              |     | $             | 23,560 |   |
| Repayment of Tranche B Notes principal and interest |     |               | (1,596 | ) |
| Change in fair value of Tranche B Notes             |     |               |  2,516 |   |
| Ending Balance as of March 31, 2025                 |     | $             | 24,480 |   |

**Aggregate principal repayments for the Company’s outstanding debt will be $ 46.3 million and $ 19.3 million in 2025 and 2026, respectively.

ZTlido Royalty Purchase Agreement

On October 8, 2024, in connection with the closing of the