Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119831
Chunk: 184

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 184
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 to us an amount required
for us to receive its share of the Net Revenue on a quarterly basis.

114

Pursuant to the Gloperba License Agreement, the Licensee shall obtain and maintain
regulatory approval for the Gloperba Product outside of the United States in accordance with its own business judgment and in its sole and absolute discretion.

Promptly after the Effective Date, we are required to (i) facilitate an introduction between the Licensee and the Gloperba CMO as of the
Effective Date, and (ii) use reasonable efforts to cause such Gloperba CMO to accept a direct engagement with the Licensee for the manufacturing or supply of the Gloperba Product in finished dosage form. In addition, we agreed to appoint the
Licensee as its exclusive distributor of the Gloperba Product in the entire world other than the United States during the Gloperba License Term.

The Gloperba License Term commences on the Effective Date and continues until expiration of the last to expire Licensed Patents (as defined
therein), unless earlier terminated.

Bid Price Deficiency & Reverse Split

On November 1, 2024, we received the Notice from Nasdaq notifying the Company that, because the closing bid price for its Common Stock has
been below $1.00 per share for 30 consecutive business days, it did not comply with the minimum bid price requirement for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule 5550(a)(2) requires listed securities to maintain the
Minimum Bid Price Requirement, and Nasdaq Listing Rule 5810(c)(3)(A) provides that a failure to meet the Minimum Bid Price Requirement exists if the deficiency continues for a period of 30 consecutive business days. The Notice also indicated that
the Company had the 180-day Compliance Period to regain compliance pursuant to Nasdaq Listing Rule 5810(c)(3)(A).

On March 19, 2025 at a special meeting of our stockholders, our stockholders approved the amendment of our Certificate of Incorporation
to effect a reverse stock split within a range of 1-for-14 to 1-for-50, with such ratio
to be determined ultimately by the Board. On April 3, 2025, the Board approved the Reverse Stock Split ratio of 1-for-35. The Company effected the Reverse Stock
Split on April 15, 2025 in order to demonstrate compliance with Nasdaq’s Minimum Bid Price Requirement prior to the end of