Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 513

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 513
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ation pursuant to the terms of the Semnur Business Combination Agreement. The Company determined it does not have significant influence over Denali and accounted for the Purchased Interests as equity securities at the transaction price which consists of the $2,000,000 paid by the Company to the Sponsor and the value of the 8,571 shares of the Common Stock at the closing price of $40.25 per share on the Signing Date for a total of $2.3 million. The Company elected to subsequently measure the investment at cost less any impairment. As of December 31, 2024, the Company’s investment in the Purchased Interests had a balance of $2.3 million. No impairment loss was recognized during the year ended December 31, 2024. Property and Equipment, Net Property and equipment, net, consists of the following (in thousands):

|                                |     |   | December 31, 
         2024 |   |     |   | December 31, 
         2023 |   |
|:-------------------------------|:----|:--|-------------:|:--|:----|:--|-------------:|:--|
| Construction in progress       |     | $ |          689 |   |     | $ |          689 |   |
| Furniture                      |     |   |           17 |   |     |   |            5 |   |
| Computers and equipment        |     |   |           16 |   |     |   |           36 |   |
| Leasehold improvements         |     |   |           50 |   |     |   |           50 |   |
| Property and equipment, gross  |     |   |          772 |   |     |   |          780 |   |
| Less: Accumulated depreciation |     |   |          (64 | ) |     |   |          (58 | ) |
| Property and equipment, net    |     | $ |          708 |   |     | $ |          722 |   |

The Company recognized depreciation expense of $14.0 thousand and $40.0 thousand for the years ended December 31, 2024 and 2023, respectively. Accrued Expenses Accrued expenses consists of the following (in thousands):

|                                        |     |   | December 31, 
         2024 |     |   | December 31, 
         2023 |
|:---------------------------------------