Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 46

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 46
---
 respect to the Oramed Note or the Tranche B Notes. In addition, our ability to pay cash upon default of the Oramed Note or the Tranche B Notes may be limited by law, regulatory authority, or any agreements governing our future indebtedness . We may be required to make milestone payments to the former stockholders of Semnur in connection with our development and commercialization of SEMDEXA, which could adversely affect the overall profitability of SEMDEXA, if approved. Under the terms of the Agreement and Plan of Merger (as amended, the “Semnur Acquisition Agreement”) we entered into with Semnur, Sigma Merger Sub, Inc., our prior wholly owned subsidiary (“Sigma Merger Sub”), Fortis Advisors LLC, solely as representative (“Semnur Equityholders’ Representative”) of the holders of Semnur equity (the “Semnur Equityholders”), and Sorrento, for limited purposes, we are obligated to pay the Semnur Equityholders up to an aggregate of $280.0 million in contingent cash consideration based on the achievement of certain milestones. A $40.0 million payment will be due upon obtaining the first approval of an NDA (as defined below) of any Semnur product, which includes SEMDEXA. Additional payments will be due upon the achievement of certain cumulative net sales of Semnur products, as follows:

| • |     | a $20.0 million payment upon the achievement of $100.0 million in cumulative net sales of a Semnur 
 product;                                                                                           |

| • |     | a $20.0 million payment upon the achievement of $250.0 million in cumulative net sales of a Semnur 
 product;                                                                                           |

| • |     | a $50.0 million payment upon the achievement of $500.0 million in cumulative net sales of a Semnur 
 product; and                                                                                       |

| • |     | a $150.0 million payment upon the achievement of $750.0 million in cumulative net sales of a Semnur 
 product.                                                                                            |

These milestone obligations could impose substantial additional costs on us, divert resources from other aspects of our business, and adversely affect the overall profitability of SEMDEXA, if approved. We may need to obtain additional financing to satisfy these milestone payments, and cannot be sure that any additional funding, if needed, will be available on terms favorable to us, or at all. 28

We will require substantial additional funding, which may not