Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 602

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 602
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. Under this agreement, the Company and the Guarantors granted to the Agent (on behalf of and for the benefit of the holders of the Oramed Note and any Additional Notes as defined thereunder) a security interest in all or substantially all of the properties of the Company and each of the Guarantors. This was done to ensure the timely payment, performance, and full discharge of all obligations under the Oramed Note. The Security Agreement contains certain customary representations, warranties and covenants regarding the collateral thereunder, all of which are detailed in the Security Agreement. On September 20, 2024, the Company and Oramed entered into a Letter Agreement (the “Oramed Letter Agreement”), pursuant to which the Company agreed to pay to Oramed $ 2,000,000(the “Specified September Payment”) on September 23, 2024, which payment was applied as follows: (i) $ 1,700,000was applied to the amortization payment due under the Oramed Note on the March 21, 2025(the “Maturity Date”) and (y) $ 300,000to purchase an aggregate of 4,000,000SPAC Warrants (as defined below, which are currently exercisable for an aggregate of up to 114,286shares of Common Stock) owned by Oramed. The parties further agreed, upon receipt of the Specified September Payment by Oramed, (i) that notwithstanding the minimum Liquidity (as defined in the Oramed Note) requirements set forth in Section 7(b)(x) of the Oramed F-84 Note, the Company and its Subsidiaries (as defined in the Oramed Note) shall be required to maintain the following minimum liquidity during the specified time periods instead: from and after September 19, 2024 until the Maturity Date, $ 0, and (ii) to extend the due date of the $ 20,000,000amortization payment from September 23, 2024to September 30, 2024. Oramed further agreed to extend such due date to October 8, 2024, on which date a consent and amendment letter was signed with Oramed under which: (i) the Company made a payment of $ 12,500,000to Oramed in lieu of the payment due on September 23, 2024, using the proceeds from the issuance of the Tr