Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 502

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 502
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 September Payment”) on September 23, 2024, which payment was applied as follows: (i) $ 1,700,000was applied to the amortization payment due under the Oramed Note on March 21, 2025(the “Maturity Date”) and (y) $ 300,000to purchase an aggregate of 4,000,000SPAC Warrants (as defined below , which are currently exercisable for an aggregate of up to 114,286shares of Common Stock) owned by Oramed. The parties further agreed, upon receipt of the Specified September Payment by Oramed, (i) that notwithstanding the minimum Liquidity (as defined therein) requirements set forth in Section 7(b)(x) of the Oramed Note, the Company and its Subsidiaries (as defined therein) shall be required to maintain the following minimum liquidity during the specified time periods instead: from and after September 19, 2024 until the Maturity Date, $ 0, and (ii) to extend the due date of the $ 20,000,000amortization payment from September 23, 2024to September 30, 2024. Oramed further agreed to extend such due date to October 8, 2024, on which date a consent and amendment letter was signed with Oramed (“Oramed Consent and Amendment”) under which: (i) the Company made a payment of $ 12,500,000to Oramed in lieu of the payment due on September 23, 2024, using the proceeds from the issuance of the Tranche B Notes, and (ii) the remaining payments under the Oramed Note were amended as follows: installment payment of $ 15,000,000payable on December 21, 2024, which payment was made on December 13, 2024, and the remaining principal balance, accrued interest and fees payable on the Maturity Date. On January 21, 2025, the Company and Oramed agreed to extend the Maturity Date under and as set forth in the Oramed Note from March 21, 2025to December 31, 2025. At issuance, the Company concluded that certain features of the Oramed Note would be considered derivatives that would require bifurcation. In lieu of bifurcating such features, the Company has elected the fair value option for this financial instrument and records the changes