Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 183

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 183
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 is determined by reference to the exercise
price of the Exchange Warrants of $40.00 per share. The exercise price is subject to customary adjustments upon any stock split, stock dividend, stock combination, recapitalization or similar event. The exercise price is also subject to full-ratchet
adjustment (down to the Exchange Warrant Exercise Price Floor) in connection with a subsequent offering at a per share price less than the exercise price then in effect. The Exchange Warrant Exercise Price Floor is $36.40 (as adjusted for stock
splits, stock dividends, stock combinations, recapitalizations and similar events). Unless stockholder approval is obtained to allow the Exchange Warrants to be exercised at a price that is lower than the Exchange Warrant Exercise Price Floor in
accordance with Nasdaq Listing Rules, such exercise price will not be lowered. The Company is under no obligation to seek or obtain such stockholder approval. The Exchange Warrants also provide for a voluntary adjustment to the exercise price,
subject to certain conditions set forth therein, including compliance with Nasdaq rules and having obtained the prior written consent of the Required Holders.

We cannot currently determine the price or prices at which shares of our Common Stock may be sold by the Selling Stockholders under this
prospectus.

114

DILUTION If you invest in our Common Stock, your interest will be diluted to the extent of the difference between the Exchange Warrant exercise price per share of Common Stock and the net tangible book value per share after this offering. As of September 30, 2025, we had net tangible book value (deficit) of approximately $(179,719,000), or $(23.69) per share. Net tangible book value per share represents the amount of total tangible assets less total liabilities divided by the number of shares of our Common Stock outstanding. Our pro forma net tangible book value (deficit) as of September 30, 2025, before giving effect to this offering, was approximately $(159,355,000), or $(18.77) per share of our Common Stock. Pro forma net tangible book value, before the issuance and sale of shares of Common Stock in this offering, gives effect to the issuance of an aggregate of 905,821 shares of Common Stock after September 30, 2025 and prior to December 5, 2025 (from (i) the exercise of 428,572 April 2024 RDO Common Warrants, and 475,824 December 2024