Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115054
Chunk: 494

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 494
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arrants as of September 21, 2023, the date of issuance, was $ 10.4million. During the year ended December 31, 2024, there were 6,500,000Penny Warrants exercised by Oramed for net proceeds of approximately $ 0.1million. As of December 31, 2024, there were 6,500,000Penny Warrants outstanding that were fully vested and such warrants became exercisable on March 14, 2025. Excise Tax In December 2022, the Department of the Treasury and the Internal Revenue Service (the “IRS”) issued guidelines on the implementation of the new code section added by the Inflation Reduction Act of 2022, which imposes a 1% excise tax on the total fair market value of stock repurchases during the tax year, subject to adjustments. Pursuant to the terms of the Sorrento SPA, the Company repurchased the Purchased Securities from Sorrento. The total fair market value of the Purchased Securities was offset by the fair market value of the shares issued during the year ended December 31, 2023. The Company has accrued $ 1.3million of the excise tax liability during the year ended December 31, 2023, which was recorded as accrued expenses under current liabilities on the consolidated balance sheet. During the year ended December 31, 2024, the Company made a total of $ 0.5million payments for the excise tax. As of December 31, 2024, the remaining balance of the excise tax liability recorded as accrued expenses was $ 0.8million. 9. Stockholders’ Deficit SPAC Warrants Upon the completion of the Business Combination, the Company assumed the Private Warrants and the public warrants to purchase Common Stock, each with an exercise price of $ 11.50per share (the “Public Warrants”, and together with the Private Warrants, the “SPAC Warrants”). F-37

Holders of the SPAC Warrants are entitled to acquire shares of Common Stock. The SPAC Warrants will expire five years after the completion of the Business Combination or earlier upon redemption or liquidation. If the reported last sale price of the Common Stock equals or exceeds $ 18.00per share for any 20 trading days within a 30-tradingday period ending three business days before the Company sends the notice of redemption to the warrant holders, the