Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 436

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 436
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 may be used for a variety of corporate finance transactions, acquisitions and employee benefit plans. The existence of authorized
but unissued and unreserved Common Stock and Preferred Stock could make more difficult or discourage an attempt to obtain control of the Company by means of a proxy contest, tender offer, merger or otherwise.

Impact of the Equity Repurchase Transaction on Provisions Related to a Sorrento Trigger Event

Certain provisions of our Certificate of Incorporation related to the number of authorized directors, filling vacancies on the Board, removal
of directors, stockholder actions by written consent, calling of special meetings of our stockholders, our election to not be governed by Section 203 of the DGCL and amendments to our Certificate of Incorporation and our Bylaws lapse upon or
are triggered at the time Sorrento first ceases to beneficially own more than 50% in voting power of the then-outstanding shares of our capital stock entitled to vote generally in the election of directors (the “Sorrento Trigger Event”).
Upon the closing of the equity repurchase transaction pursuant to the Sorrento SPA in which we purchased from Sorrento (i) 1,716,245 shares of Common Stock, (ii) 29,057,097 shares of Series A Preferred Stock, and (iii) warrants exercisable for
128,304 shares of Common Stock, each with an exercise price of $402.50 per whole share (the “Equity Repurchase Transaction”), a Sorrento Trigger Event occurred. The disclosures below related to the foregoing provisions are based on the
occurrence of such event.

Classified Board of Directors

The Certificate of Incorporation provides that our Board is divided into three classes, with the classes as nearly equal in number as practical
and each class serving three-year staggered terms. The directors in each class serve for a three-year term (except that the term of our current Class III directors shall expire at our 2025 annual meeting of stockholders (with three-year terms
subsequently)), with one class being elected each year by the stockholders. This system of electing and removing directors may tend to discourage a third party from making a tender offer or otherwise attempting to obtain control of the Company,
because it generally makes it more difficult for stockholders to replace a majority of the directors.

The Certificate of Incorporation
also provides that the total number of directors shall be determined from time to time exclusively by our Board.

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Removal of Directors; Vacancies

The Certificate of Incorporation provides