Company: SCLXW
Filing Date: 2025-12-17
Form Type: 424B3
Source: 0001193125-25-321966
Chunk: 3

Company: Scilex Holding Co
Filing Date: 2025-12-17
Form: 424B3
Chunk 3
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 any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 1.01. Entry into a Material Definitive Agreement On December 16, 2025, SCLX Stock Acquisition JV LLC (“SCLX JV”), a wholly-owned subsidiary of Scilex Holding Company (the “Company”), entered into a Non-Recourse Loan and Securities Pledge Agreement (the “Loan Agreement”) with The St. James Bank & Trust Company Ltd., a corporation existing under the laws of the Bahamas (the “Lender”), pursuant to which the Lender agreed to loan SCLX JV an aggregate principal amount of up to $100 million in one or more tranches (the “Loan”). The timing and amount of any particular tranche of the Loan shall be determined at the sole discretion of the Lender and the Lender shall notify SCLX JV in advance of its intention to fund a particular tranche. The Loan will accrue interest at the rate of the 12-month Secured Overnight Financing Rate, with such interest due and payable on the earlier of Maturity Date and the date of an event of default. The “Maturity Date” of the Loan is the eighth anniversary of the closing date of the first tranche of the Loan and may be extended by up to 12 months at the request of SCLX JV. SCLX JV is also required to pay a fee of 0.25% of the principal amount of each tranche. Pursuant to the terms of the Loan Agreement, SCLX JV agreed to pledge such number of shares of common stock of the Company currently held by SCLX JV equal to 70% of the aggregate principal amount of the Loan, calculated in accordance with the terms set forth in the Loan Agreement (the “Pledged Securities”) in favor of the Lender as security for SCLX JV’s satisfaction of its obligations thereunder. The Pledged Securities will be held in a securities account that SCLX JV or its affiliates will open with the Lender. The Loan Agreement contains certain events of default, including, without limitation: a decrease in the closing price of the Pledged Securities of more than 20%, provided that such decrease is not cured within three days by delivering additional securities into the securities account or depositing cash into a bank account with the Lender as security for the Loan; a decrease in the average trading volume of the Pledged Securities for any three consecutive trading days of more than