Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 187

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 187
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 voting rights attached to the shares.

Scilex Bio JV

On April 17, 2025, we and IPMC Company formed a joint venture, Scilex Bio, Inc., to develop and commercialize a next-generation reversible MAO-B Inhibitor, a novel inhibitor of aberrant GABA production in reactive astrocytes for the treatment of obesity and neurodegenerative diseases including Alzheimer’s disease. We contributed 5.0 million shares of Semnur Common Stock owned by us to Scilex Bio, Inc. in exchange for a 60% ownership interest in Scilex Bio, Inc. and IPMC Company contributed certain assets to Scilex Bio, Inc. in exchange for a 40% ownership interest in Scilex Bio, Inc.

Oramed Penny Warrant Repurchase

As previously disclosed and as described elsewhere in this prospectus, on September 21, 2023, we issued Penny Warrants to purchase up to an aggregate of 6,500,000 shares of Common Stock to Oramed.

On July 22, 2025, we entered into the Option Agreement, pursuant to which, among other things, Oramed granted the Option to us for the Penny Warrant Repurchase for the Penny Warrant Repurchase Amount, subject to the terms and conditions set forth therein. In consideration of the Option, we agreed to pay the Option Payment Amount to Oramed in two equal installments occurring on or before August 8, 2025 and December 16, 2025, respectively. Provided that we have made the applicable option payment on or before such dates, we shall be entitled to purchase the Penny Warrants as follows: (i) on or before September 30, 2025, we may repurchase 3,130,000 Penny Warrants for $13,000,000 and (ii) on or before December 31, 2025, we may repurchase 3,370,000 Penny Warrants for $14,000,000. Additionally, if we effect the Penny Warrant Repurchase and have paid the Option Payment Amount and Penny Warrant Repurchase Amount in full, in accordance with the terms**

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**of the Option Agreement, then the maturity date of the Oramed Note, shall be extended to March 31, 2026 and any make-whole payment due thereunder upon prepayment shall be waived.

Oramed has the right to terminate the Option