Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 32

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 32
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 been satisfied (such date, the “Commencement Date”), including that the registration statement of which this prospectus forms a part be declared effective by the SEC. From and after such date, we will have the right, but not the obligation, from time to time at our discretion until the first day of the month immediately following the 24-month anniversary of the date on which this registration statement has been declared effective by the SEC, to direct Tumim to purchase a number of shares of Common Stock not to exceed the applicable VWAP Purchase Maximum Amount as described further below under the heading “—Purchase of Shares Under the Tumim Purchase Agreement”

We will control the timing and amount of any sales of Common Stock to Tumim. Actual sales of shares of our Common Stock to Tumim under the Tumim Purchase Agreement will depend on a variety of factors to be determined by us from time to time, which may include, among other things, market conditions, the trading price of our Common Stock, and determinations by us as to the appropriate sources of funding for our company and its operations.

Pursuant to the terms of the Tumim Purchase Agreement, we may not sell any shares of Common Stock thereunder and Tumim shall not have the obligation to purchase shares of Common Stock thereunder to the extent (but only to the extent) that after giving effect to such purchase and sale, the aggregate number of shares of Common Stock issued thereunder would exceed 1,390,443 shares of Common Stock, which number of shares is equal to 19.99% of the aggregate amount of Common Stock issued and outstanding as of the date of the Tumim Purchase Agreement, unless: (i) we obtain stockholder approval to issue shares of Common Stock in excess of the Exchange Cap, or (ii) the average price of all applicable sales of our Common Stock to Tumim under the Tumim Purchase Agreement equals or exceeds $8.09 (which is the “Minimum Price” (as such term is defined in Rule 5635 of the Nasdaq Listing Rules)), such that such issuances and sales of our Common Stock to Tumim under the Tumim Purchase Agreement would be exempt from the Exchange Cap limitation under applicable Nasdaq Listing Rules. The Tumim Purchase Agreement also prohibits us from directing Tumim to purchase any shares of our Common Stock if those shares, when aggregated with all other shares of our Common Stock then beneficially owned by Tumim and its affiliates, would result