Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 31

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 31
---
2025 Warrants prohibit a holder (together with its affiliates) from exercising such warrant to the extent that immediately after giving effect to such exercise, the holder would own more than 4.99% of our outstanding Common
Stock, provided that, at the election of the holder, such beneficial ownership limitation may be increased or decreased to a percentage not to exceed 9.99% of our outstanding Common Stock upon 61 days’ notice to us. As a result, if you hold a
significant amount of our securities, you may not be able to exercise such warrant for shares of our Common Stock, in whole or in part, at a time when it would be financially beneficial for you to do so.

We may not have sufficient resources to repurchase the Exchange Warrants, September 2025 Warrants or November 2025 Warrants.

Under certain circumstances, in the event of a fundamental transaction, as described in the Exchange Warrants, September 2025 Warrants, and
November 2025 Warrants, the respective holders thereof may each require us or our successor entity in such transaction to repurchase the remaining unexercised portion of such warrants for an amount of cash equal to the value of such warrant as
determined in accordance with the Black Scholes option pricing model on the date of the fundamental transaction, if the fundamental transaction is within our control. Our or such successor entity’s ability to repurchase such warrants upon such
an event will depend on our or such successor entity’s available cash resources at such time, which will also be subject to general economic, financial, competitive, legislative and regulatory factors and other factors that are beyond our
control. We cannot assure you that we will maintain sufficient cash reserves or that our business will generate cash flow from operations at levels sufficient to permit us to repurchase such warrants in the event of a fundamental transaction.

If we do not maintain a current and effective registration statement or resale registration statement registering the shares of Common Stock issuable upon exercise of the Exchange Warrants, September 2025 Warrants and November 2025 Warrants, the respective holders will also be able to exercise such warrants on a “cashless basis.”

If a registration statement registering the shares of Common Stock issuable upon exercise of the Exchange Warrants under the Securities Act is
not effective or available at the time that holders wish to exercise such Exchange Warrants, and if a resale registration statement registering the shares of Common Stock issuable upon exercise of the Exchange Warrants, September 2025 Warrants