Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 534

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 534
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 as accrued expenses was $0.8 million.

9. Stockholders’ Deficit

SPAC Warrants

Upon the completion of the Business
Combination, the Company assumed the Private Warrants and the public warrants to purchase Common Stock, each with an exercise price of $402.50 per share (the “Public Warrants”, and together with the Private Warrants, the “SPAC
Warrants”).

Holders of the SPAC Warrants are entitled to acquire shares of Common Stock. The SPAC Warrants will expire five years after the
completion of the Business Combination or earlier upon redemption or liquidation.

If the reported last sale price of the Common Stock equals or exceeds
$630.00 per share for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders, the Company may redeem all the
Public Warrants at a price of $0.01 per warrant upon not less than 30 days’ prior written notice.

If the Company calls the Public Warrants for
redemption, the Company will have the option to require all holders that wish to exercise the Public Warrants to do so on a cashless basis. The Company will not be required to net cash settle the SPAC Warrants.

The Public Warrants are equity-classified warrants and recognized in additional paid-in capital in the accompanying
consolidated balance sheets. The Private Warrants are liability-classified warrants and are recognized as liabilities (refer to Notes 1 and 4).

During
the year ended December 31, 2023, the SPAC Warrants held by Sorrento were repurchased, and certain of such warrants transferred to Oramed, as a result of the Sorrento SPA (refer to Note 8). On September 20, 2024, the Company repurchased
4,000,000 of the SPAC Warrants, which are currently exercisable for an

F-37

aggregate of up to 114,286 shares of Common Stock, held by Oramed (refer to Note 7). Following the repurchase, these warrants were cancelled.

As of December 31, 2024 and 2023, there were 5,467,692 and 6,854,309 Public Warrants outstanding, which are currently exercisable for an
aggregate of up to 156,220 shares of Common Stock and 195,838 shares of Common Stock, respectively.

As of December