Company: SCLXW
Filing Date: 2025-12-29
Form Type: 424B3
Source: 0001193125-25-335429
Chunk: 199

Company: Scilex Holding Co
Filing Date: 2025-12-29
Form: 424B3
Chunk 199
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 immediately after giving effect to such exercise. Such maximum percentage may be raised or
lowered to any other percentage not in excess of 9.99%, at the option of the holder, except that any increase will only be effective upon 61 days’ prior notice to us.

Exercise Period

The November 2025
Investor Warrant was immediately exercisable upon issuance, and will be exercisable until the November 2025 Investor Warrant expiration date of November 25, 2030.

Purchase and Distribution Rights

If we
(i) issue or sell Purchase Rights pro rata to the record holders of our common stock or (ii) declare or make any Distribution, then, in each case, the holder of the November 2025 Investor Warrant will, upon each exercise of the November
Common 2025 Warrant, be entitled to participate in such issuance or sale of Purchase Rights or Distribution, as applicable, to the same extent that the holder would have participated therein if the holder had held the number of shares of our Common
Stock the holder acquired upon each such exercise immediately before the date on which a record is taken for such issuance or sale of Purchase Rights or Distribution.

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Fundamental Transactions

The November 2025 Investor Warrant prohibits us from entering into specified fundamental transactions unless the successor entity (subject to
certain exceptions) assumes all of our obligations under the November 2025 Investor Warrant under a written agreement before the transaction is completed and the successor entity is a publicly traded company.

Upon specified corporate events, the holder of the November 2025 Investor Warrant will thereafter have the right to receive upon an exercise
such shares, securities, cash, assets or any other property whatsoever which the holder would have been entitled to receive upon the happening of the applicable corporate event had the November 2025 Investor Warrant been exercised immediately prior
to the applicable corporate event.

When there is a transaction involving specified changes of control, the holder of the November 2025
Investor Warrant will have the right to force us to repurchase such holder’s November 2025 Investor Warrant for a purchase price in cash equal to the Black Scholes value, as calculated under the terms of the November 2025 Investor Warrant, of
the then unexercised portion of the November 2025 Investor Warrant.

November 2025 Placement Agent Warrants

The terms of the November 2025 Placement Agent Warrants are identical to the terms of the November 2025 Investor Warrant