Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119831
Chunk: 448

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 448
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 shares of Common Stock, subject to certain conditions.

280

Unless earlier converted or redeemed, the Tranche B Notes will mature on the two-year anniversary of the issuance date, subject to extension at the option of the holder in certain circumstances as provided in the Tranche B Notes. All amounts due under the Tranche B Notes are
convertible at any time, in whole or in part, and subject to certain beneficial ownership limitations, at the option of the holder into shares of our Common Stock at the Conversion Price, subject to adjustment as described in the Tranche B Notes.
The Tranche B Notes are our senior secured obligation (alongside and in certain circumstances described herein subordinate to, the Oramed Note) and rank senior to the right to payment of the holders of our unsecured debt, except as described herein.

At any time after issuance, all amounts due under the Tranche B Notes are convertible, in whole or in part, at the holder’s option,
into Common Stock at the Conversion Price, which is subject to (i) proportional adjustment upon the occurrence of any stock split, stock dividend, stock combination and/or similar transactions; and (ii) full-ratchet adjustment (down to the
Conversion Price Floor) in connection with a subsequent offering at a per share price less than the fixed conversion price then in effect. The Conversion Price cannot be lower than the Conversion Price Floor unless shareholder approval is obtained
to allow the Tranche B Notes to convert at a price lower than the Conversion Floor Price in accordance with Nasdaq listing rules. We are under no obligation to seek or obtain such shareholder approval.

The Tranche B Notes held by an individual holder may not be converted into shares of Common Stock to the extent such conversion would result
in holder (together with certain related parties of holder) would beneficially own in excess of the Maximum Percentage of shares of the Common Stock outstanding immediately after giving effect to such conversion. The Maximum Percentage with respect
to a holder and certain related parties may be raised or lowered to any other percentage not in excess of 9.99%, at the option of the holder, except that any increase will only be effective upon 61 days’ prior notice to the Company.

We have the right (assuming no failure of certain specific conditions relating to our equity) to redeem in cash all, but not less than all,
the amount then outstanding under the Tranche B Notes at a 35% redemption premium to the greater of (i) the amount then outstanding under the Tranche B Notes to be redeemed