Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119822
Chunk: 427

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 427
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 reverse stock split or otherwise) the Common Stock into a smaller number of shares.

The foregoing summary of the terms and conditions of the Deposit Warrant does not purport to be complete and is qualified in its entirety by
reference to the copy of the form of Deposit Warrant that is filed as an exhibit to the registration statement of which this prospectus forms a part.

October 2024 Warrants

On October 7,
2024, we entered into the Tranche B Securities Purchase Agreement with the Tranche B Noteholders, pursuant to which we sold, in a registered offering, (i) the October 2024 Noteholder Warrants to purchase up to 214,284 shares of Common Stock,
issued to the Tranche B Noteholders, with a current exercise

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price of $36.40 per share and (ii) the October 2024 Placement Agent Warrants to purchase up to 104,848 shares of Common Stock, issued to the Placement Agents, with a current exercise price
of $36.40 per share. As of March 31, 2025, there were 319,132 October 2024 Warrants that remain outstanding.

The October 2024
Noteholder Warrants are exercisable immediately from the date of issuance and expire five years from the issuance date. The exercise price of the October 2024 Noteholder Warrants is subject to adjustment for any stock split, stock dividend, stock
combination, recapitalization or similar event, and is also subject to full-ratchet adjustment (down to the Exercise Price Floor) in connection with a subsequent offering at a per share price less than the exercise price then in effect. The exercise
price cannot be lower than $1.04 (as adjusted for stock splits, stock dividends, stock combinations, recapitalizations and similar events, the “Exercise Price Floor”), unless shareholder approval is obtained to allow the October 2024
Noteholder Warrants to be exercised at a price lower than the Exercise Price Floor in accordance with Nasdaq listing rules. We are under no obligation to seek or obtain such shareholder approval.

A holder shall not have the right to exercise any portion of a October 2024 Noteholder Warrant to the extent that, after giving effect to such
conversion, the holder (together with certain related parties) would beneficially own in excess of 4.99% (the “October 2024 Beneficial Ownership Limitation”) of shares of Common Stock outstanding immediately after giving effect to such
conversion.