Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115054
Chunk: 199

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 199
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, 2024. The April 2024 RDO closed on April 25, 2024.

Commitment Letter

On June 11, 2024, we entered into the Commitment Letter, pursuant to which FSF committed to provide us a loan in the aggregate amount of $100 million (the “Commitment Amount”). The Commitment Amount shall be payable as follows: (i) $85 million no later than the date that is 70 days following the date on which we receive the FSF Deposit (the “Outside Date” and the funding of the initial $85 million, the “Initial Closing”) and (ii) the remaining $15 million within 60 days following the Initial Closing. Pursuant to the Commitment Letter, FSF provided us the non-refundable FSF Deposit in immediately available funds in the aggregate principal amount of $10 million on June 18, 2024 (the “Deposit Date”), which amount will be creditable towards the $85 million required to be funded by FSF at the Initial Closing. On the Deposit Date, we issued to FSF the Deposit Warrant to purchase up to an aggregate of 3,250,000 shares of Common Stock (subject to adjustment for certain stock dividends, stock splits, or similar transaction), with an exercise price of $1.20 per share. The terms of the Deposit Warrant were not subject to adjustment as a result of the Reverse Stock Split. Subject to certain ownership limitations, the Deposit Warrant is immediately exercisable and will expire five years from the date of issuance.

In connection with the transactions contemplated by the Commitment Letter, we also entered into a letter agreement with FSF and FSF’s strategic consultant, IVI, dated July 16, 2024, pursuant to which we agreed to reimburse the actual, reasonable and documented consulting fees incurred by FSF in connection with the preparation, negotiation and execution of the Commitment Letter and the definitive documents with respect to the transactions contemplated thereby, which fees were satisfied in full by us issuing to IVI a warrant to purchase up to an aggregate of 250,000 shares (on a pre-Reverse Stock Split basis) of Common Stock (the “Fee Warrant”) on July 16, 2024, with an exercise price of $1.20 per share (on a pre-Reverse Stock Split basis). In October 2024, the Fee Warrant was exercised by IVI.

The shares of Common Stock issuable upon exercise of the Deposit Warrant