Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119831
Chunk: 192

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 192
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 Oramed Letter Agreement. The loss recognized during the year ended December 31, 2023 was attributed to losses of
$4.4 million for the Convertible Debentures and $2.8 million for the Oramed Note. The Convertible Debentures were issued in March and April 2023 in an aggregate principal amount of $25.0 million, which were fully repaid during the
first quarter of 2024. The Oramed Note was issued in September 2023 in the principal amount of $101.9 million, of which the principal amount of $25.0 million remained outstanding as of December 31, 2024. The FSF Deposit was received
in June 2024 in the principal amount of $10.0 million and was satisfied in November 2024 by the delivery of the Additional Product (as defined below) to Endeavor. The Tranche B Notes were issued in October 2024 in the principal amount of
$50.0 million, of which the principal amount of $38.0 million remained outstanding as of December 31, 2024.

Interest Expense, Net

Interest expense, net for the years ended December 31, 2024 and 2023 was $2.0 million and $1.1 million,
respectively. The increase was attributed to $0.8 million of interest related to the Revolving Facility and $0.1 million of interest related to deferred consideration for GLOPERBA license acquired from Romeg in 2022.

121

Liquidity and Capital Resources As of December 31, 2024, we had cash and cash equivalents of approximately $3.3 million. We have funded our operations primarily through the Yorkville financing pursuant to the A&R Yorkville Purchase Agreement (as defined below), the B. Riley Principal Capital II, LLC (“B. Riley”) financing pursuant to the B. Riley Purchase Agreement (as defined below), the Revolving Facility, the issuance of the Convertible Debentures and financing pursuant to the ATM Sales Agreement. We also have indebtedness pursuant to the Oramed Note and Tranche B Notes as well as deferred consideration related to the GLOPERBA license acquired from Romeg in 2022. The following table summarizes the aggregate indebtedness of these issuances as of December 31, 2024 and December 31, 2023 (in thousands):

| Oramed Note (outstanding principal balance: $25.0