Company: SCLXW
Filing Date: 2025-11-14
Form Type: 424B3
Source: 0001193125-25-283322
Chunk: 47

Company: Scilex Holding Co
Filing Date: 2025-11-14
Form: 424B3
Chunk 47
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holders to permit the issuance of shares of Common Stock in excess of the Stockholder Approval Cap (as

<div align='center'>25</div>

defined therein) upon exercise of any Penny Warrants retained by Oramed following such termination, subject to the terms and conditions set forth therein. In September 2025, the Company partially exercised its option purchasing 3,130,000 Penny Warrants and continues to hold the Option to repurchase the remaining 3,370,000 Penny Warrants. As Oramed is a shareholder, the Company accounted for the excess fair value over the repurchase price as a deemed contribution from Oramed, which was recorded within Additional Paid-in Capital. The following table provides a summary of the changes in the balance and the estimated fair value of the Oramed Note (in thousands):

|                                                                                             | September 30, 
 2025          |        |
|:--------------------------------------------------------------------------------------------|:--------------|-------:|
| Ending Balance as of December 31, 2024                                                      | $             | 12,161 |
| Change in fair value of Oramed Note – recorded in the consolidated statements of operations |               | 12,702 |
| Ending Balance as of September 30, 2025                                                     | $             | 24,863 |

Tranche B Notes On October 7, 2024, the Company entered into the Tranche B Securities Purchase Agreement with the Tranche B Investors and Oramed to refinance a portion of the Oramed Note and pay off certain other indebtedness of the Company. Pursuant to the Tranche B Securities Purchase Agreement, the Company agreed to issue and sell, in a registered offering by the Company directly to the Tranche B Noteholders: (i) the Tranche B Notes, which notes will mature on the two-year anniversary of the issuance date and will be convertible into shares of Common Stock at a current conversion price equal to $36.40 per share and (ii) warrants (the “October 2024 Noteholder Warrants”) to purchase up to 214,284 shares of Common Stock directly to the Tranche B Noteholders. In exchange for the issuance of the Tranche B Notes to the Tranche B Investors, the Company has received an aggregate amount of $22,500,000 in cash, excluding fees and expenses payable by the Company. In consideration for the Tranche B Notes issued to Oramed, the Company has received from Oramed an exchange and reduction of the principal balance