Company: SCLXW
Filing Date: 2025-08-14
Form Type: 424B3
Source: 0000950170-25-108226
Chunk: 33

Company: Scilex Holding Co
Filing Date: 2025-08-14
Form: 424B3
Chunk 33
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 are currently exercisable for an aggregate of up to 428,572 shares of Common Stock, 3,250,000 Deposit Warrant, which are currently exercisable for an aggregate of up to 3,250,000 shares of Common Stock, 7,500,000 October 2024 Noteholder Warrants, which are currently exercisable for an aggregate of up to 214,284 shares of Common Stock, and 57,512,958 December 2024 RDO Common Warrants, which are currently exercisable for an aggregate of up to 1,642,871 shares of Common Stock. As of June 30, 2025, the fair value of derivative warrant liabilities related to these warrants was $20.3 million.

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The following table includes a summary of the derivative liabilities measured at fair value during the six months ended June 30, 2025 (in thousands):

|                                        |     | Fair Value |        |
|:---------------------------------------|:----|:-----------|-------:|
| Ending Balance as of December 31, 2024 |     | $          | 18,303 |
| Change in fair value measurement       |     |            |  1,966 |
| Ending Balance as of June 30, 2025     |     | $          | 20,269 |

Warrant Liability Measurement The derivative warrant liability was valued using the Black-Scholes option pricing model, which is considered to be a Level 3 fair value measurement. The primary unobservable input utilized in determining the fair value of the warrant is the expected volatility of the Common Stock. The expected volatility assumption is based on the Company’s historical volatility, historical volatilities of comparable companies whose share prices are publicly available as well as the implied volatility of the Public Warrants (as defined below), described in Note 9 of the Notes to Consolidated Financial Statements in the Annual Report on Form 10-K . A summary of the inputs used in valuing the derivative warrant liabilities as of June 30, 2025 is as follows:

|                |     |   | Private Warrants |   |     |   | February 2024 BDO Firm Warrants |   |     |   | April 2024 RDO Common Warrants |   |     |   | Deposit Warrant |   |     |   | October 2024 Noteholder Warrants |   |     |   | December 2024 RDO Common Warrants (