Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 604

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 604
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 shall be entitled to purchase the Penny Warrants as follows: (i) on or before September 30, 2025, it may repurchase 3,130,000Penny Warrants for $ 13.0million, and (ii) on or before December 31, 2025, it may repurchase 3,370,000Penny Warrants for $ 14.0million. Additionally, if the Company effects the Warrant Repurchase and has paid the Option Payment Amount and the Warrant Repurchase Amount in full, then the maturity date of the Oramed Note shall be extended to March 31, 2026 and any make-whole payment due thereunder upon prepayment shall be waived. The modification of the terms of the Oramed Note was accounted for as debt extinguishment and the Option was determined to be an embedded feature of the Oramed Note and was reflected into the remeasurement of Oramed Note liability as of September 30, 2025. Oramed has the right to terminate the Option Agreement if the Company (i) fails to make certain payments thereunder or (ii) has not exercised the Option by the applicable dates set forth therein. Pursuant to the terms of the Option Agreement, the Company has agreed that, if the Option Agreement is terminated pursuant to the terms set forth therein, the Company will use commercially reasonable efforts to obtain the approval of its stockholders to permit the issuance of shares of Common Stock in excess of the Stockholder Approval Cap (as defined therein) upon exercise of any Penny Warrants retained by Oramed following such termination, subject to the terms and conditions set forth therein. In September 2025, the Company partially exercised its option purchasing 3,130,000Penny Warrants and continues to hold the Option to repurchase the remaining 3,370,000Penny Warrants. As Oramed is a shareholder, the Company accounted for the excess fair value over the repurchase price as a deemed contribution from Oramed, which was recorded within Additional Paid-inCapital. F- 85

The following table provides a summary of the changes in the balance and the estimated fair value of the Oramed Note (in thousands):

|                                                                                             |     | September 30,2025 |        |
|:--------------------------------------------------------------------------------------------|:----|:------------------|-------:|
| Ending Balance as of December 31, 2024                                                      |     | $                 | 12,161 |