Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119831
Chunk: 271

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 271
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will be due upon the achievement of certain amounts of net sales of Semnur products, as follows: (i) a $20.0 million payment upon the achievement of $100.0 million in cumulative net sales of a Semnur product, (ii) a
$20.0 million payment upon the achievement of $250.0 million in cumulative net sales of a Semnur product, (iii) a $50.0 million payment upon the achievement of $500.0 million in cumulative net sales of a Semnur product, and
(iv) a $150.0 million payment upon the achievement of $750.0 million in cumulative net sales of a Semnur product. As of the date of this prospectus, none of the foregoing payments have been triggered.

The Semnur Acquisition Agreement also provided that following the consummation of Legacy Scilex’s first bona fide equity financing with
one or more third-party financing sources on an arms’ length basis with gross proceeds to Legacy Scilex of at least $40.0 million, certain of the former Semnur optionholders will be paid cash in lieu of: (i) the 352,972 shares of
Legacy Scilex Common Stock otherwise issuable to such former Semnur optionholders pursuant to the Semnur Acquisition Agreement, and (ii) any shares that would otherwise be issued to such former Semnur optionholders upon release of shares held
in escrow pursuant to the Semnur Acquisition Agreement, with such shares in each case valued at $1.16 per share. The Semnur optionholders subsequently agreed, under the terms of the Exchange Agreement (as defined and described below) to forego the
foregoing right to any such payment in exchange for the right to participate in the Share Exchange (as defined below).

In March 2019, the
Semnur Equityholders that received $55.0 million of shares of Common Stock (47,039,315 shares issued and 352,972 shares issuable, valued at $1.16 per share, in each case on a pre-Reverse Stock Split
basis) (the “the Stock Consideration”) were required to sign an Exchange and Registration Rights Agreement with Legacy Scilex (as amended, the “Exchange Agreement”). Pursuant to the Exchange Agreement, and upon the terms and
subject to the conditions contained therein, if within 18 months following the closing of the Semnur Acquisition, 100% of