Company: SCLXW
Filing Date: 2025-11-14
Form Type: 424B3
Source: 0001193125-25-283329
Chunk: 69

Company: Scilex Holding Co
Filing Date: 2025-11-14
Form: 424B3
Chunk 69
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. Scilex Holding Company 2022 Employee Stock Purchase Plan In October 2022, the Board adopted the Scilex Holding Company 2022 Employee Stock Purchase Plan (the “ESPP”). The purchase price of the Common Stock is equal to 85% of the lesser of the market value of such shares at the beginning of an offering period or the date of purchase. As of September 30, 2025, the total number of shares of Common Stock that may be issued under the ESPP shall not exceed 170,573, which was increased from 127,902 shares as a result of automatic annual increase on January 1, 2025. Total stock-based compensation recorded as operating expense for the ESPP was $7.8 thousand and $84.6 thousand for the three and nine months ended September 30, 2025, respectively and $74.2 thousand and $0.2 million for the three and nine months ended September 30, 2024, respectively. As of September 30, 2025, there were 4,072 shares of Common Stock issued under the ESPP. Valuation Assumptions The Company calculates the fair value of stock options granted to employees and nonemployees and shares issued under ESPP using the Black-Scholes option pricing method. The Black-Scholes option pricing method requires the use of subjective assumptions. The following assumptions were used in the Black-Scholes option pricing model to estimate stock-based compensation on the date of grant for stock options:

|                               |     |  Nine Months Ended 
 September 30, 2025 |
|:------------------------------|:----|-------------------:|
| Stock options:                |     |                    |
| Expected dividend yield       |     |              0.00% |
| Expected volatility           |     |             98.45% |
| Risk-free interest rate       |     |              4.01% |
| Term of options (in years)    |     |               6.25 |
| Employee stock purchase plan: |     |                    |
| Expected dividend yield       |     |              0.00% |
| Expected volatility           |     |            112.87% |
| Risk-free interest rate       |     |              4.31% |
| Expected life (in years)      |     |               0.49 |

Semnur 2024 Stock Option Plan Concurrent with the signing of the Semnur Business Combination Agreement, the Board, the Company