Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 272

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 272
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 adjustment for any stock
dividend, stock split, stock combination, reclassification or similar transaction) (the “Exchange Price”). Pursuant to an amendment to the Exchange Agreement entered into by Sorrento and the Semnur Equityholders’ Representative on
September 28, 2020, on October 9, 2020, Sorrento paid $55.0 million in cash to the Semnur Equityholders in lieu of issuing $55.0 million of shares of Sorrento’s common stock at the Exchange Price.

The foregoing is a summary of the material terms of the Semnur Acquisition Agreement (including the amendment thereto) in the forms filed as
exhibits to the registration statement of which this prospectus is a part. You should read the Semnur Acquisition Agreement (including the amendment thereto) for a complete understanding of all of their respective terms.

177

Semnur-Denali Business Combination

On August 30, 2024, Semnur entered into the Semnur Business Combination Agreement with Denali and Denali Merger Sub.

The Semnur Business Combination Agreement provides that, among other things, (i) on the terms and subject to the conditions set forth
therein, Denali Merger Sub will merge with and into Semnur, with Semnur surviving as a wholly owned subsidiary of Denali (the “Semnur Business Combination”), and (ii) prior to the closing of the Semnur Business Combination, Denali
will migrate to and domesticate as a Delaware corporation in accordance with Section 388 of the DGCL, and de-register in the Cayman Islands in accordance with Section 206 of the Cayman Companies Act
(the “Semnur Domestication”). Upon the closing of the Semnur Business Combination, it is anticipated that Denali will change its name to “Semnur Pharmaceuticals, Inc.” (“New Semnur”). Shares of Denali common stock
following the Semnur Domestication are hereinafter referred to as “New Semnur Common Shares”. Shares of Denali Series A preferred stock following the Semnur Domestication are hereinafter referred to as “New Semnur Preferred
Shares”. Warrants to purchase New Semnur Common Shares following the Semnur Domestication are hereinafter referred to as “New Semnur Warrants”.

In connection with the execution and delivery of the Semnur Business Combination Agreement, Denali Capital Global Investments LLC, a