Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119822
Chunk: 166

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 166
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 redeem the SPAC Warrants (other than Private Warrants still held by the initial purchasers thereof) at any time after they
become exercisable and prior to their expiration for a number of shares of our Common Stock determined based on the fair market value of our Common Stock. The value received upon exercise of the SPAC Warrants (1) may be less than the value the
holders would have received if they had exercised their SPAC Warrants at a later time where the underlying share price is higher and (2) may not compensate the holders for the value of the SPAC Warrants.

102

MARKET AND INDUSTRY DATA

Certain information contained in this prospectus relates to or is based on studies, publications, surveys and other data obtained from
third-party sources and our own internal estimates and research. While we believe these third-party sources to be reliable as of the date of this prospectus, we have not independently verified the market and industry data contained in this
prospectus or the underlying assumptions relied on therein. Finally, while we believe our own internal research is reliable, such research has not been verified by any independent source. Notwithstanding the foregoing, we are liable for the
information provided in this prospectus. The industry in which we operate is subject to a high degree of uncertainty and risk due to a variety of factors, including those described in the section of this prospectus titled “Risk Factors”. These and other factors could cause results to differ materially from those expressed in the estimates made by the independent parties and by us.

103

USE OF PROCEEDS

We will only receive proceeds from the exercise of the 2024 Warrants if such warrants are exercised and the holders of such warrants pay the
exercise price in cash upon such exercise and do not utilize the cashless exercise provision of the 2024 Warrants. We estimate that the gross proceeds to us from the exercise of the 2024 Warrants will be approximately $77.8 million, to the
extent the exercise prices therefor are paid in cash.

We will not receive any proceeds from the resale pursuant to this prospectus of the
Resale Shares obtained upon the exercise of the Deposit Warrant by the Selling Securityholder. We estimate that the gross proceeds to us from the exercise of the Deposit Warrant will be approximately $3.9 million.

We currently intend to use the proceeds (if any) from the exercise of the 2024 Warrants and the Deposit Warrant for working capital and
general corporate purposes,