Company: SCLXW
Filing Date: 2025-02-26
Form Type: PRER14A
Source: 0001193125-25-036730
Chunk: 18

Company: Scilex Holding Co
Filing Date: 2025-02-26
Form: PRER14A
Chunk 18
---
 its sole discretion. In determining whether to proceed with the Reverse Stock Split, the Board expects to consider a number of factors, including market conditions, existing and expected trading prices of the Common Stock, our actual and projected financial performance, the Nasdaq Capital Market listing requirements, our additional funding requirements, overall trends in the stock market, business developments, and the amount of our authorized but unissued Common Stock. The Board does not intend for this transaction to be the first step in a series of plans or proposals of a “going private” transaction within the meaning of Rule 13e-3of the Exchange Act. The Board believes that stockholder approval of a range of potential reverse stock split ratios is in the best interests of our Company and stockholders because it is not possible to predict market conditions at the time the Reverse Stock Split would be implemented. We believe that a range of reverse stock split ratios provides us with the most flexibility to achieve the desired results of the Reverse Stock Split. The reverse stock split ratio to be selected by our Board will be no less than 1-for-14and not more than 1-for-50. Determination of the Reverse Stock Split Ratio The selection of the specific reverse stock split ratio will be based on several factors, including, among other things:

| • |     | our ability to maintain the listing of our Common Stock on the Nasdaq Capital Market; |

| • |     | the per share price of the Common Stock immediately prior to the Reverse Stock Split; |

| • |     | the expected stability of the per share price of the Common Stock following the Reverse Stock Split; |

11

| • |     | the likelihood that the Reverse Stock Split will result in increased marketability and liquidity of the Common 
 Stock;                                                                                                         |

| • |     | the anticipated impact of the Reverse Stock Split on our ability to raise additional financing; |

| • |     | which split ratio would result in the greatest overall reduction in our administrative costs; |

| • |     | general economic conditions in our industry; and |

| • |     | our market capitalization before and after the Reverse Stock Split. |

We believe that granting our Board the authority to set the ratio for the Reverse Stock Split is essential because it allows us to take these factors into consideration and to react to changing market conditions. If the Board chooses to implement the Reverse Stock Split, we will make a public announcement regarding the determination of the reverse stock split ratio. Principal Effects of the Reverse Stock Split Effects of the Reverse Stock Split on Iss