Company: SCLXW
Filing Date: 2025-01-17
Form Type: 10-Q
Source: 0000950170-25-006755
Chunk: 90

Company: Scilex Holding Co
Filing Date: 2025-01-17
Form: 10-Q
Item: Item 1
Chunk 90
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00%

        Expected volatility
         
        72% - 97%

        Risk-free interest rate
         
        3.79% - 4.44%

        Term of options (in years)
         
        5.5 - 6.3

        Employee stock purchase plan:

        Expected dividend yield
         
        0.00%

        Expected volatility
         
        129.30%

        Risk-free interest rate
         
        5.39%

        Expected life (in years)
         
        0.50
       
       Semnur 2024 Stock Option Plan  Concurrent with the signing of the Semnur Merger Agreement, the Board, the Company (as the sole stockholder of Semnur) and the Board of Directors of Semnur approved the 2024 Stock Option Plan (“Semnur 2024 Plan”). Under the Semnur 2024 Plan, 40,000,000 shares of Semnur Common Stock were reserved for future issuance and Nonstatutory Stock Options (“NSOs”) to purchase the same amount of Semnur Common Stock were granted to certain executive officers of Semnur. The NSOs were granted on August 30, 2024 and expire on August 30, 2034. No expense was recorded in connection with the NSOs as of September 30, 2024, as until the date on which all payments and all obligations under the Oramed Note have been paid in full in cash, such options will not be or become exercisable, eligible for exchange, redemption or repurchase, eligible to participate in any dividends or distributions or have any voting rights in respect of the Company or any of its current or future subsidiaries of the Company, and following the closing of the transactions contemplated by the Semnur Merger Agreement, the Company, Denali or any of their respective current and future subsidiaries, successors and assigns. Employee Benefit Plan The Company maintains a defined contribution 401(k) plan available to eligible employees. Employee contributions are voluntary and are determined on an individual basis, limited to the maximum amount allowable under federal tax regulations. The Company made matching contributions to the 401(k) plan totaling $0.5 million and $0.3 million for the nine months ended September 30, 2024 and 2023, respectively. Retainer Shares  On February 13, 2023, the Company entered into a Stock Issuance