Company: SCLXW
Filing Date: 2025-01-17
Form Type: 10-Q
Source: 0000950170-25-006755
Chunk: 332

Company: Scilex Holding Co
Filing Date: 2025-01-17
Form: 10-Q
Item: Item 8
Chunk 332
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 was received in June 2024 in the principal amount of $10.0 million, which remained outstanding as of September 30, 2024. During the nine months ended September 30, 2023, the change in fair value was attributed to the Convertible Debentures.

Interest Expense, Net

Interest expense, net for the nine months ended September 30, 2024 and 2023 was $1.7 million and $0.5 million, respectively. The increase was attributed to $1.2 million of interest related to the Revolving Facility.

Liquidity and Capital Resources

As of September 30, 2024, we had cash and cash equivalents of approximately $0.1 million.

We have funded our operations primarily through the Yorkville financing pursuant to the A&R Yorkville Purchase Agreement (as defined below), the B. Riley Principal Capital II, LLC (“B. Riley”) financing pursuant to the B. Riley Purchase Agreement (as defined below), the Revolving Facility and the issuance of the Convertible Debentures and financing pursuant to the ATM Sales Agreement (as defined below). We also have indebtedness pursuant to the Oramed Note, the FSF Deposit and the Revolving Facility as well as deferred consideration related to the GLOPERBA license acquired from RxOmeg Therapeutics, LLC (a/k/a Romeg Therapeutics, Inc.) (“Romeg”) in 2022. The following table summarizes the aggregate indebtedness of these issuances as of September 30, 2024 and December 31, 2023 (in thousands):

 51

    September 30, 2024

    December 31, 2023

    Oramed Note (outstanding principal balance: $60.2 million and $96.9 million as of September 30, 2024 and December 31, 2023, respectively)
     
    $
    69,946

    $
    104,089

    Convertible Debentures (outstanding principal balance: nil and $4.4 million as of September 30, 2024 and December 31, 2023, respectively)

    —

    4,340

    FSF Deposit (outstanding principal balance: $10.0 million and nil as of September 30, 2024 and December 31, 2023, respectively)

    14,690

    —

    Revolving Facility

    14,332