Company: SCLXW
Filing Date: 2025-05-14
Form Type: 424B3
Source: 0001193125-25-119846
Chunk: 453

Company: Scilex Holding Co
Filing Date: 2025-05-14
Form: 424B3
Chunk 453
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 to exercise any portion of a
October 2024 Noteholder Warrant to the extent that, after giving effect to such conversion, the holder (together with certain related parties) would beneficially own in excess of 4.99% (the “October 2024 Beneficial Ownership Limitation”)
of shares of Common Stock outstanding immediately after giving effect to such conversion. The October 2024 Beneficial Ownership Limitation may be raised or lowered to any other percentage not in excess of 9.99%, at the option of the holder, except
that any increase will only be effective upon 61 days’ prior notice to the Company.

The October 2024 Placement Agent Warrants have
the same terms as the October 2024 Noteholder Warrants described above, except that the Placement Agents have agreed not to exercise the October 2024 Placement Agent Warrants for a period of 180 days following the date of issuance.

The foregoing summaries of the terms and conditions of the October 2024 Warrants do not purport to be complete and are qualified in their
entirety by reference to the copies of the forms of October 2024 Warrants that are filed as an exhibit to the registration statement of which this prospectus forms a part.

Tranche B Notes

Pursuant to the Tranche
B Securities Purchase Agreement, we issued to the Tranche B Noteholders the Tranche B Notes in the aggregate principal amount of $50,000,000, which notes are convertible into shares of Common Stock. As of March 31, 2025, we had Tranche B Notes
in the aggregate principal amount of $36,994,298 that remain outstanding, which notes are convertible as of such date into 1,114,770 shares of Common Stock at the Conversion Price (as defined below).

The aggregate principal balance of the Tranche B Notes is $50,000,000. The aggregate purchase price for the Tranche B Notes and the related
warrants (described above) is $45,000,000. The Tranche B Notes have an original issue discount of 10.0%. We received in exchange for the issuance of the Tranche B Notes to the Tranche B Investors an aggregate amount in cash equal to $22,500,000,
excluding fees and expenses. We received from Oramed in consideration for the Tranche B Notes issued to Oramed an exchange and reduction of

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the principal balance under the Oramed Note of an