Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 434

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 434
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 Option, the Company agreed to pay $1,500,000 to Oramed in two equal installments occurring on or before August 8, 2025 and December 16, 2025, respectively. Provided that the Company has
made the applicable option payment on or before such dates, the Company shall be entitled to purchase the Penny Warrants as

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follows: (i) on or before September 30, 2025, it may repurchase 3,130,000 Penny Warrants for $13,000,000 and (ii) on or before December 31, 2025, it may repurchase 3,370,000
Penny Warrants for $14,000,000. Additionally, if the Company effects the Penny Warrant Repurchase and has paid the Option Payment Amount and Penny Warrant Repurchase Amount in full, in accordance with the terms of the Option Agreement, then the
maturity date of the Oramed Note shall be extended to March 31, 2026 and any make-whole payment due thereunder upon prepayment shall be waived. On September 30, 2025, the Company partially exercised the option and repurchased 3,130,000
Penny Warrants for $13,000,000.

Oramed shall have the right to terminate the Option Agreement if the Company (i) fails to make
certain payments thereunder or (ii) has not exercised the Option by the applicable dates set forth therein.

Pursuant to the terms of
the Option Agreement, the Company has agreed that, if the Option Agreement is terminated pursuant to the terms set forth therein, the Company will use commercially reasonable efforts to obtain the approval of its stockholders to permit the issuance
of shares of Common Stock in excess of the Stockholder Approval Cap (as defined therein) upon exercise of any Penny Warrants retained by Oramed following such termination, subject to the terms and conditions set forth therein.

The foregoing summary of the Option Agreement does not purport to be complete and is qualified in its entirety by reference to the full text
of the Option Agreement, a copy of which is filed as an exhibit to the registration statement of which this prospectus forms a part.

Shah Consulting Agreement

On September 22, 2025, in connection with the previously announced Semnur Business Combination, Jaisim
Shah resigned as a director of the Company, effective immediately.

On September 22, 2025, in