Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 437

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 437
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16, 2025, in connection with the formation of Scilex Bio, Inc. the Company entered into a Consent, Waiver and Amendment re Tranche A Senior Secured Promissory Note with Oramed (the “Oramed Consent and Waiver”), pursuant to which certain definitions in the Oramed Note were modified to reflect, among other things, that Scilex Bio will not be deemed a subsidiary of Scilex under the terms of the Oramed Note.

The above descriptions of the Oramed Consent and Waiver is not complete and is qualified in its entirety by reference to the full text of the Oramed Consent and Waiver, a copy of which is filed as an exhibit to the registration statement of which this prospectus forms a part.

Oramed Penny Warrant Repurchase

As previously disclosed and as described elsewhere in this prospectus, on September 21, 2023, the Company issued Penny Warrants to purchase up to an aggregate of 6,500,000 shares of Common Stock to Oramed.

On July 22, 2025, the Company entered into the Option Agreement with Oramed, pursuant to which, among other things, Oramed granted the Option to the Company to repurchase the Penny Warrants in two tranches for an aggregate purchase price of $27,000,000, subject to the terms and conditions set forth therein. In consideration of the Option, the Company agreed to pay $1,500,000 to Oramed in two equal installments occurring on or before August 8, 2025 and December 16, 2025, respectively. Provided that the Company has made the applicable option payment on or before such dates, the Company shall be entitled to purchase the Penny Warrants as**

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**follows: (i) on or before September 30, 2025, it may repurchase 3,130,000 Penny Warrants for $13,000,000 and (ii) on or before December 31, 2025, it may repurchase 3,370,000 Penny Warrants for $14,000,000. Additionally, if the Company effects the Penny Warrant Repurchase and has paid the Option Payment Amount and Penny Warrant Repurchase Amount in full, in accordance with the terms of the Option Agreement, then the maturity date of the Oramed Note shall be extended to March 31, 2026 and any make-wh