Company: SCLXW
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0000950170-25-071904
Chunk: 65

Company: Scilex Holding Co
Filing Date: 2025-05-15
Form: 424B3
Chunk 65
---
              |   104,848 |
| December 2024 RDO Common Warrants         |     |           | 1,642,871 |     |              | 1,642,871 |
| StockBlock Warrants                       |     |           |   131,472 |     |              |   131,472 |
| Total                                     |     |           | 8,668,507 |     |              | 4,817,769 |

<div align='center'>34</div>

13. Subsequent Events

Scilex Bio JV

On April 17, 2025, the Company and IPMC Company formed a joint venture, Scilex Bio, Inc., to develop and commercialize a next-generation reversible MAO-B Inhibitor, a novel inhibitor of aberrant GABA production in reactive astrocytes for the treatment of obesity and neurodegenerative diseases including Alzheimer’s disease. The Company contributed 5.0 million shares of Semnur Common Stock owned by the Company to Scilex Bio, Inc. in exchange for a 60% ownership interest in Scilex Bio, Inc. and IPMC Company contributed certain assets to Scilex Bio, Inc. in exchange for a 40% ownership interest in Scilex Bio, Inc. In connection with the formation of Scilex Bio, Inc. and the related transactions, on April 16, 2025, the Company entered into a Consent, Waiver and Amendment re Tranche A Senior Secured Promissory Note with Oramed, and the Company entered into a Consent, Waiver and Amendment re Tranche B Senior Secured Convertible Note with each of the Tranche B Noteholders.

<div align='center'>35</div>

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read together with the unaudited condensed consolidated financial statements and related notes thereto included elsewhere in this Quarterly Report on Form 10-Q and our consolidated financial statements and related notes appearing in our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2025 (the “Annual Report on Form 10-K”). In addition to historical information, this discussion and analysis contains forward-looking statements that involve risks, uncertainties and assumptions. Our actual results may differ materially from these forward-looking