Company: SCLXW
Filing Date: 2025-12-16
Form Type: S-1
Source: 0001193125-25-319720
Chunk: 593

Company: Scilex Holding Co
Filing Date: 2025-12-16
Form: S-1
Chunk 593
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 of S e p t e m b e r 3 0 , 2025, the following warrants to purchase Common Stock that are included in derivative liabilities were outstanding: 1,000,000 Private Warrants, which are currently exercisable for an aggregate of up to 28,572 shares of Common Stock, 3,803,447 February 2024 BDO Firm Warrants, which are currently exercisable for an aggregate of up to 108,686 shares of Common Stock, 15,000,000 April 2024 RDO Common Warrants, which are currently exercisable for an aggregate of up to 428,572 shares of Common Stock, 3,250,000 Deposit Warrant, which are currently exercisable for an aggregate of up to 3,250,000 shares of Common Stock, October 2024 Noteholder Warrants exercisable for an aggregate of up to 107,142 shares of Common Stock, and December 2024 RDO Common Warrants exercisable for an aggregate of up to 1,013,122 shares of Common Stock, 500,000New Tranche B Warrants and 275,000September 2025 Warrants. As of September 30, 2025, the fair value of derivative warrant liabilities related to these warrants was $ 82.0 million.**

The following table includes a summary of the derivative liabilities measured at fair value during the nine months ended September 30, 2025 (in thousands):

|                                                                                                           |     | Fair Value |        |   |
|:----------------------------------------------------------------------------------------------------------|:----|:-----------|-------:|:--|
| Ending Balance as of December 31, 2024                                                                    |     | $          | 18,303 |   |
| Change in fair value measurement                                                                          |     |            | 60,324 |   |
| Issuance of September 2025 Warrants                                                                       |     |            |  3,091 |   |
| Tranche B deferral modification                                                                           |     |            |   (839 | ) |
| Change in fair value related to the October 2024 Noteholder Warrants exchanged for New Tranche B Warrants |     |            |  1,103 |   |
| Ending Balance as of September 30, 2025                                                                   |     | $          | 81,982 |   |

**Warrant Liability Measurement

The derivative warrant liability was valued using the Black-Scholes option pricing model, which is considered