Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 202

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 202
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 the shares of our Common Stock underlying the November 2025 Investor Warrant, such warrant may be exercised on a cashless basis pursuant to their terms.

#### Limitations on Exercise
A holder shall not have the right to exercise any portion of the November 2025 Investor Warrant to the extent that, after giving effect to such conversion, the holder (together with certain of its related parties) would beneficially own in excess of 4.99% of shares of our Common Stock outstanding immediately after giving effect to such exercise. Such maximum percentage may be raised or lowered to any other percentage not in excess of 9.99%, at the option of the holder, except that any increase will only be effective upon 61 days’ prior notice to us.

#### Exercise Period
The November 2025 Investor Warrant was immediately exercisable upon issuance, and will be exercisable until the November 2025 Investor Warrant expiration date of November 25, 2030.

#### Purchase and Distribution Rights
If we (i) issue or sell Purchase Rights pro rata to the record holders of our common stock or (ii) declare or make any Distribution, then, in each case, the holder of the November 2025 Investor Warrant will, upon each exercise of the November Common 2025 Warrant, be entitled to participate in such issuance or sale of Purchase Rights or Distribution, as applicable, to the same extent that the holder would have participated therein if the holder had held the number of shares of our Common Stock the holder acquired upon each such exercise immediately before the date on which a record is taken for such issuance or sale of Purchase Rights or Distribution.

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#### Fundamental Transactions
The November 2025 Investor Warrant prohibits us from entering into specified fundamental transactions unless the successor entity (subject to certain exceptions) assumes all of our obligations under the November 2025 Investor Warrant under a written agreement before the transaction is completed and the successor entity is a publicly traded company.

Upon specified corporate events, the holder of the November 2025 Investor Warrant will thereafter have the right to receive upon an exercise such shares, securities, cash, assets or any other property whatsoever which the holder would have been entitled to receive upon the happening of the applicable corporate event had the November 2025 Investor Warrant been exercised immediately prior to the applicable corporate event.

When there is a transaction involving specified changes of control, the holder of the November 2025 Investor Warrant will have the right to force