Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 414

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 414
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ramed, pursuant to which, among other things, Oramed granted the Option to the Company to repurchase the Penny Warrants in two tranches for an aggregate purchase price of $27,000,000, subject to the terms and conditions set forth therein. In consideration of the Option, the Company agreed to pay $1,500,000 to Oramed in two equal installments occurring on or before August 8, 2025 and December 16, 2025, respectively. Provided that the Company has made the applicable option payment on or before such dates, the Company shall be entitled to purchase the Penny Warrants as follows: (i) on or before September 30, 2025, it may repurchase 3,130,000 Penny Warrants for $13,000,000 and (ii) on or before December 31, 2025, it may repurchase 3,370,000 Penny Warrants for $14,000,000. Additionally, if the Company effects the Penny Warrant Repurchase and has paid the Option Payment Amount and Penny**

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**Warrant Repurchase Amount in full, in accordance with the terms of the Option Agreement, then the maturity date of the Oramed Note shall be extended to March 31, 2026 and any make-whole payment due thereunder upon prepayment shall be waived.

Oramed shall have the right to terminate the Option Agreement if the Company (i) fails to make certain payments thereunder or (ii) has not exercised the Option by the applicable dates set forth therein.

Pursuant to the terms of the Option Agreement, the Company has agreed that, if the Option Agreement is terminated pursuant to the terms set forth therein, the Company will use commercially reasonable efforts to obtain the approval of its stockholders to permit the issuance of shares of Common Stock in excess of the Stockholder Approval Cap (as defined therein) upon exercise of any Penny Warrants retained by Oramed following such termination, subject to the terms and conditions set forth therein.

The foregoing summary of the Option Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Option Agreement, a copy of which is filed an as exhibit to the registration statement of which this prospectus forms a part.

Executive Officer and Director Compensation

Please see the sections titled “Executive and Director Compensation” for information regarding the compensation of our executive officers and non-employee directors.

Employment Ag