Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119831
Chunk: 485

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 485
---
 (the “Purchased Interests”), of Denali that are currently held by the Sponsor. The aggregate consideration for the purchase and sale of the Purchased Interests is as follows: (i) $2,000,000 (the “Cash Consideration”) and (ii) 300,000 shares of Common Stock. Pursuant to the SIPA, the Company has paid the Cash Consideration on the Signing Date and has agreed to issue Common Stock to the Sponsor contingent upon and following the occurrence of the Effective Time. The Company accounted for this promise to issue shares at a future date as an equity classified instrument as it is indexed to the Company’s own stock and meets the conditions to be classified in equity under FASB ASC 815, Derivatives and Hedging. The Purchased Interests will convert automatically, on a one-for-onebasis, into one New Semnur Common Share at the effective time of the Domestication pursuant to the terms of the Semnur Business Combination Agreement. The Company determined it does not have significant influence over Denali and accounted for the Purchased Interests as equity securities at the transaction price which consists of the $2,000,000 paid by the Company to the Sponsor and the value of the 300,000 shares of the Common Stock at the closing price of $1.15 per share on the Signing Date for a total of $2.3 million. The Company elected to subsequently measure the investment at cost less any impairment. As of December 31, 2024, the Company’s investment in the Purchased Interests had a balance of $2.3 million. No impairment loss was recognized during the year ended December 31, 2024. Property and Equipment, Net Property and equipment, net, consists of the following (in thousands):

|                                |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:-------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Construction in progress       |     | $ |          689 |   |     | $ |          689 |   |
| Furniture                      |     |   |           17 |   |     |   |            5 |   |
| Computers and equipment        |     |   |           16 |   |     |   |           36 |   |
| Leasehold improvements         |