Company: SCLXW
Filing Date: 2025-07-23
Form Type: 424B3
Source: 0001193125-25-163077
Chunk: 20

Company: Scilex Holding Co
Filing Date: 2025-07-23
Form: 424B3
Chunk 20
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 stockholder
approval of a waiver of the Exchange Cap is obtained).

(d) . The Company shall not issue or sell any shares
of Common Stock pursuant to this Agreement if such issuance or sale would reasonably be expected to result in: (i) a violation of the Securities Act; or (ii) a breach of the rules of the Trading Market. The provisions of this
shall be construed and implemented in a manner otherwise than in strict conformity with the terms of this only if necessary to ensure compliance with the Securities Act and
the applicable rules of the Trading Market. The limitations contained in this may not be waived by the Company or the Investor.

Section3.4 . Notwithstanding anything to the contrary
contained in this Agreement, the Company shall not issue or sell, and the Investor shall not purchase or acquire, any shares of Common Stock under this Agreement which, when aggregated with all other shares of Common Stock then beneficially owned by
the Investor and its Affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder), would result in the beneficial ownership by the Investor of more
than 4.99% of the then-issued and outstanding shares of Common Stock (the “Beneficial Ownership Limitation”). If the Company issues a VWAP Purchase Notice with respect to any VWAP Purchase that would cause the aggregate number of
shares of Common Stock then beneficially owned (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder) by the Investor and its Affiliates to exceed the
Beneficial Ownership Limitation, such VWAP Purchase Notice shall be void ab initio to the extent of the amount by which the number of shares of Common Stock otherwise issuable pursuant to such VWAP Purchase Notice, together with all shares of
Common Stock then beneficially owned (as calculated pursuant to Section 13(d) of the Exchange Act and Rule 13d-3 promulgated thereunder) by the Investor and its Affiliates, would exceed the
Beneficial Ownership Limitation. Upon the written or oral request of the Investor, the Company shall promptly (but not later than the next Trading Day) confirm orally or in writing to the Investor the number of shares of Common Stock then
outstanding. The Investor and the Company shall each cooperate in good faith in the determinations required under this and the application of this . The Investor’s
written certification to the Company of the