Company: SCLXW
Filing Date: 2025-01-17
Form Type: 424B3
Source: 0000950170-25-006774
Chunk: 40

Company: Scilex Holding Co
Filing Date: 2025-01-17
Form: 424B3
Chunk 40
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000 payable on December 21, 2024, and the remaining principal balance, accrued interest and fees payable on the Maturity Date.

The following table provides a summary of the changes in the balance and the estimated fair value of the Oramed Note (in thousands):

|                                                                                                                                    | September 30, 
 2024          |         |   |
|:-----------------------------------------------------------------------------------------------------------------------------------|:--------------|--------:|:--|
| Ending Balance as of December 31, 2023                                                                                             | $             | 104,089 |   |
| Repayment of Oramed Note                                                                                                           | $             | (36,700 | ) |
| Change in fair value of Oramed Note – recorded in the unaudited condensed consolidated statements of operations                    |               |   7,568 |   |
| Change in fair value of Oramed Note – due to instrument-specific credit risk recorded as a component of other comprehensive income |               |  (5,011 | ) |
| Ending Balance as of September 30, 2024                                                                                            | $             |  69,946 |   |

Commitment Letter

On June 11, 2024, the Company entered into the Commitment Letter with FSF Lender, pursuant to which FSF Lender committed to provide the Company the FSF Loan in the aggregate amount of $100.0 million. The Commitment Amount should be payable as follows: (i) $85.0 million no later than the Outside Date, which is 70 days following the date on which the Company received the FSF Deposit and (ii) the remaining $15.0 million within 60 days following the Initial Closing.

Pursuant to the Commitment Letter, FSF Lender provided the Company a non-refundable FSF Deposit in immediately available funds in the aggregate principal amount of $10.0 million on the Deposit Date, which amount would be creditable towards the $85.0 million required to be funded by FSF Lender at the Initial Closing. The Company received the FSF Deposit on June 18, 2024 and issued to FSF Lender the Deposit Warrant to purchase up to an aggregate of 3,250,000 shares of Common Stock (subject to adjustment for any stock dividend, stock split, reverse stock split or similar transaction), with an exercise price of $1.20 per share. The Deposit Warrant was immediately exercisable and would expire five years from the date of issuance. If the Initial