Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119831
Chunk: 381

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 381
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the “Bankruptcy Code”) in the Bankruptcy Court.

After a hearing before the Bankruptcy Court on March 29,
2023, the Bankruptcy Court entered a final order approving a non-amortizing super-priority senior secured term loan facility in an aggregate principal amount not to exceed $75,000,000 in term loan
commitments (the “Senior DIP Facility”), provided to the Debtors by JMB Capital Partners Lending, LLC (the “Senior DIP Lender”), on a final basis. The Debtors then negotiated definitive financing documentation, including a Senior
Secured, Super-Priority Debtor-in-Possession Loan and Security Agreement and other documents evidencing the Senior DIP Facility. At the time of the entry of
the Interim DIP Order (as defined below), the Debtors’ liquidity was projected to last only until July 7, 2023. The Senior DIP Facility matured on July 31, 2023 and was not repaid on such date.

On June 30, 2023, the Debtors filed the Debtors’Emergency Motion for Entry of Interim and Final Orders (I)Authorizing the Debtors to (A)Obtain Junior Secured Superpriority Postpetition Financing and (B)Use Cash Collateral, (II)Granting Liens and Providing Claims with Superpriority Administrative Expense Status, (III)Modifying the Automatic Stay, (IV)Scheduling a Final Hearing, and (V)Granting Related Relief (the “DIP Motion”), seeking
the Bankruptcy Court’s approval of the Junior DIP Facility (as defined below) and certain related relief.

Terms of the Junior DIP Facility

On July 5, 2023, the Company and the Debtors executed that
certain Debtor-in-Possession Term Loan Facility Summary of Terms and Conditions (the “Junior DIP Term Sheet”), pursuant to which the Company (or its
designees or its assignees) agreed to provide the Debtors with a non-amortizing super-priority junior secured

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term loan facility in an aggregate principal amount not to exceed the sum of (i) $20,000,000 (the “Base Amount”), plus (ii) the amount of the commitment fee and the funding
fee, each equal to 1% of the Base Amount, plus (iii) the amount of the DIP Lender Holdback (as defined in the Interim DIP Order) (the “Junior