Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 411

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 411
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 Company), subject to the terms therein. The Replacement DIP Order provided that the liens securing the Junior DIP Facility were junior to the liens securing the
Replacement DIP Facility and the Company was not permitted to exercise certain remedies until the payment in full of the Replacement DIP Facility (all as set forth in the Replacement DIP Order). Though junior to the Replacement DIP Facility, the
Company would still have been treated as a secured creditor with priority over other claimants in the Chapter 11 Cases.

We funded the
Junior DIP Facility with cash on hand, including from a portion of the net proceeds from the eCapital Credit Agreement that were distributed to us by our wholly owned subsidiary, Scilex Pharma. As noted below, the Junior DIP Facility was terminated
on September 21, 2023, pursuant to the Pay-Off Letter (as defined below).

The
above description of the Junior DIP Facility is not complete and is qualified in its entirety by reference to the Junior DIP Term Sheet, the Junior DIP Loan Agreement and the Intercreditor and Subordination Agreement, each of which are filed as an
exhibit to the Current Report on Form 8-K, filed with the SEC on July 7, 2023.

Stock Purchase Agreement with Sorrento

On the Oramed Closing Date, we entered into, and consummated the transactions contemplated by, the
Scilex-Oramed SPA. Pursuant to the Scilex-Oramed SPA, among other things, on September 21, 2023, we (i) issued to Oramed (A) the Oramed Note due 18 months from the date of issuance in the principal amount of $101,875,000, (B) the
Penny Warrants to purchase up to an aggregate of 13,000,000 shares of Common Stock, with an exercise price of $0.01 per share and certain restrictions on exercisability, and (ii) caused the Transferred Warrants to purchase up to an aggregate of
114,286 shares of Common Stock, with an exercise price of $402.50 per whole share, that we acquired from Sorrento pursuant to the Sorrento SPA to be transferred to Oramed. Pursuant to the terms and conditions contained in the Scilex-Oramed SPA, we
also agreed to reimburse Oramed for up to $2,910,000 for its legal and other advisor costs, fees