Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 270

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 270
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Lifecore and Semnur.

The foregoing is a summary of the material terms of the Lifecore Master Services Agreement and the amendments
thereto in the forms filed as exhibits to the registration statement of which this prospectus is a part. You should read the form of the agreement and its amendments for a complete understanding of all of their respective terms.

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Semnur Acquisition

On March 18, 2019, Legacy Scilex acquired Semnur pursuant to the Semnur Acquisition Agreement, Sigma Merger Sub, the Semnur
Equityholders’ Representative, and for limited purposes, Sorrento. Pursuant to the Semnur Acquisition Agreement, Sigma Merger Sub merged with and into Semnur (the “Semnur Acquisition”), with Semnur surviving as Legacy Scilex’s
wholly owned subsidiary.

Pursuant to the Semnur Acquisition Agreement, and upon the terms and subject to the conditions contained
therein, Legacy Scilex also agreed to pay former holders of Semnur’s capital stock (the “Semnur Equityholders”) up to $280.0 million in aggregate contingent cash consideration based on the achievement of certain milestones (which
amount is expected to be charged back to Semnur through an intercompany arrangement), comprised of a $40.0 million payment that will be due upon obtaining the first approval of a NDA of a Semnur product by the FDA and additional payments that
will be due upon the achievement of certain amounts of net sales of Semnur products, as follows: (i) a $20.0 million payment upon the achievement of $100.0 million in cumulative net sales of a Semnur product, (ii) a
$20.0 million payment upon the achievement of $250.0 million in cumulative net sales of a Semnur product, (iii) a $50.0 million payment upon the achievement of $500.0 million in cumulative net sales of a Semnur product, and
(iv) a $150.0 million payment upon the achievement of $750.0 million in cumulative net sales of a Semnur product. As of the date of this prospectus, none of the foregoing payments have been triggered.

The Semnur Acquisition Agreement also provided that following the consummation of Legacy Scilex’s first bona fide equity financing with
one or more third-party financing sources on an arms’ length basis with gross proceeds to Legacy Sc