Company: SCLXW
Filing Date: 2025-02-14
Form Type: PRE 14A
Source: 0001193125-25-027244
Chunk: 14

Company: Scilex Holding Co
Filing Date: 2025-02-14
Form: PRE 14A
Chunk 14
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 set forth in this proposal. The potential amendments at the other approved ratios within the range will be abandoned by the Board. If the Board elects to effect the Reverse Stock Split, following stockholder approval, for a Reverse Stock Split in the range of 1-for-14to 1-for-30,the number of issued shares of Common Stock would be reduced in accordance with a reverse stock split ratio selected by the Board from among those set forth in this proposal. Except for adjustments that may result from the treatment of fractional shares as described below, each stockholder will hold the same percentage of outstanding Common Stock immediately following the Reverse Stock Split as such stockholder held immediately prior to the Reverse Stock Split. The par value of the Common Stock would remain unchanged at $0.0001 per share. The Reverse Stock Split would not change the number of authorized shares of Common Stock. There are currently no specific plans, arrangements, agreements or understandings for the issuance of the additional authorized but unissued and unreserved shares of Common Stock that would be created by the Reverse Stock Split. The text of the proposed amendment to the Certificate of Incorporation to effect the Reverse Stock Split is included as Appendix Ato this Proxy Statement. However, such text is subject to amendment to include such changes as may be required by the office of the Delaware Secretary of State or as the Board deems necessary and advisable to effect the Reverse Stock Split. If the Reverse Stock Split Proposal is approved by our stockholders, we will have the authority to file an amendment reflecting a ratio within the approved ranges with the Delaware Secretary of State, which will become effective upon its filing or the effective time set forth in the amendment. The Board has determined that the amendment is advisable and in the best interests of the Company and its stockholders and has submitted the amendment for consideration by our stockholders at the Special Meeting. Reasons for the Reverse Stock Split Although the proposed Reverse Stock Split will not have the effect of increasing the Company’s equity market capitalization, we believe that implementing the Reverse Stock Split could provide benefits to the Company and our existing stockholders in a number of ways, including:

| 1. | Maintain our listing on the Nasdaq Capital Market. Our Common Stock is traded on the Nasdaq                                                                                                                                       
 Capital Market. On November 1, 2024, we received a notice from Nasdaq indicating that, for the last 30 consecutive business days, the bid price for the Common Stock had closed below the minimum $1.00 per share requirement for 
 continued listing on the Nas