Company: SCLXW
Filing Date: 2025-04-15
Form Type: 8-K
Source: 0001193125-25-080856
Chunk: 1

Company: Scilex Holding Co
Filing Date: 2025-04-15
Form: 8-K
Item: Item 5.03
Chunk 1
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Item 5.03.      Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.  

On April 14, 2025, Scilex Holding Company (the “ Company”) filed a Certificate of Amendment to its Restated Certificate of Incorporation (the “ Certificate of Amendment”), with the Secretary of State of the State of Delaware to effect a 1-for-35 reverse stock split (the “ Reverse Stock Split”) of the shares of Company’s common stock, $0.0001 par value per share (“ Common Stock”).

As previously disclosed in a Current Report on Form 8-K filed by the Company with the Securities and Exchange Commission on March 20, 2025, at the Company’s Special Meeting of Stockholders held on March 19, 2025, the stockholders of the Company approved any amendment to the Company’s Restated Certificate of Incorporation to effect a reverse stock split of the Common Stock, within a range of 1-for-14 to 1-for-50 (or any number in between), without reducing the authorized number of shares of Common Stock, and the filing of a final amendment with the ratio within such range to be determined in the sole discretion of the Board of Directors of the Company (the “ Board”) at any time on or before March 19, 2026, without further approval or authorization of the Company’s stockholders. The Board set the Reverse Stock Split ratio at 1-for-35 and approved and authorized the filing of the Certificate of Amendment on April 3, 2025.

As a result of the Reverse Stock Split, every thirty-five (35) shares of pre-Reverse Stock Split Common Stock will be combined into one (1) share of post-Reverse Stock Split Common Stock, without any change in par value per share. Proportionate voting rights and other rights of holders of Common Stock will not be affected by the Reverse Stock Split (other than as a result of the payment of cash in lieu of fractional shares as described below).

No fractional shares of Common Stock will be issued as a result of the Reverse Stock Split. In lieu of any fractional shares to which a holder of Common Stock would otherwise be entitled as a result of the Reverse Stock Split, the Company will pay cash equal to such fraction multiplied by the closing sales price of the Common Stock as reported on the Nasdaq Capital Market on April 14, 2025, which is the trading day immediately preceding the effective date of the Reverse Stock Split.

The Reverse Stock Split