Company: SCLXW
Filing Date: 2025-05-07
Form Type: POS AM
Source: 0001193125-25-115095
Chunk: 504

Company: Scilex Holding Co
Filing Date: 2025-05-07
Form: POS AM
Chunk 504
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 2024 , using the proceeds from the issuance of the Tranche B Notes, and (ii) the remaining payments under the Oramed Note were amended as follows: installment payment of $ 15,000,000 payable on December 21, 2024, which payment was made on December 13, 2024, and the remaining principal balance, accrued interest and fees payable on the Maturity Date. On January 21, 2025, the Company and Oramed agreed to extend the Maturity Date under and as set forth in the Oramed Note from March 21, 2025 to December 31, 2025 .

At issuance, the Company concluded that certain features of the Oramed Note would be considered derivatives that would require bifurcation. In lieu of bifurcating such features, the Company has elected the fair value option for this financial instrument and records the changes in the fair value within the consolidated statements of operations and comprehensive loss at the end of each reporting period. As of December 31, 2024, the fair value of the Oramed Note was $ 12.2 million, which is classified as debt, current in the consolidated balance sheet.

The following table provides a summary of the changes in the balance and the estimated fair value of the Oramed Note (in thousands):

|                                                                                                                                    |     | December 31,2024 |         |   |
|:-----------------------------------------------------------------------------------------------------------------------------------|:----|:-----------------|--------:|:--|
| Ending Balance as of December 31, 2023                                                                                             |     | $                | 104,089 |   |
| Repayment of Oramed Note                                                                                                           |     |                  | (64,200 | ) |
| Conversion into Tranche B Notes                                                                                                    |     |                  | (25,000 | ) |
| Change in fair value of Oramed Note – recorded in the consolidated statements of operations                                        |     |                  |   3,589 |   |
| Change in fair value of Oramed Note – due to instrument-specific credit risk recorded as a component of other comprehensive income |     |                  |  (6,317 | ) |
| Ending Balance as of December 31, 2024                                                                                             |     | $                |  12,161 |   |

Commitment Letter On June 11, 2024, the Company entered into the Commitment Letter with FSF Lender, pursuant to which FSF Lender