Company: SCLXW
Filing Date: 2025-08-04
Form Type: S-1
Source: 0001193125-25-172703
Chunk: 34

Company: Scilex Holding Co
Filing Date: 2025-08-04
Form: S-1
Chunk 34
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 Amount”):

| (a) | 100% of the average daily trading volume in the Common Stock on the Trading Market (as defined in the Tumim Purchase Agreement) (or, in the event the Common Stock is then listed on an Eligible Market (as defined in the Tumim Purchase Agreement), 100% of the average daily trading volume in the Common Stock on such Eligible Market) for the five consecutive trading-day period ending on (and including) the trading day immediately preceding the applicable VWAP Purchase Exercise Date (as defined in the Tumim Purchase Agreement) for such VWAP Purchase; |

| (b) | the product (rounded up or down to the nearest whole number) obtained by multiplying (x) the daily trading volume in the Common Stock on the Trading Market (or an Eligible Market, as applicable) on the applicable VWAP Purchase Exercise Date for such VWAP Purchase by (y) 0.40; and |

| (c) | the quotient (rounded up or down to the nearest whole number) obtained by dividing (x) $3,000,000 by (y) the VWAP (as defined in the Tumim Purchase Agreement) on the Trading Market (or an Eligible Market, as applicable) on the trading day immediately preceding the applicable VWAP Purchase Exercise Date for such VWAP Purchase (in each case to be appropriately adjusted for any reorganization, recapitalization, non-cash dividend, stock split, reverse stock split or other similar transaction during the applicable period). |

Tumim is obligated to accept each VWAP Purchase Notice prepared and timely delivered on the VWAP Purchase Exercise Date by us in accordance with the terms of and subject to the satisfaction of the conditions contained in the Tumim Purchase Agreement; provided that, Tumim shall not be obligated to purchase any shares of Common Stock set forth in an otherwise valid VWAP Purchase Notice in excess of the VWAP Purchase Maximum Amount. We may deliver a VWAP Purchase Notice on a VWAP Purchase Exercise Date, provided that: (i) we may not deliver more than one VWAP Purchase Notice Tumim on any single trading day, (ii) we may not deliver a VWAP Purchase notice to Tumim on any trading day during the period until the termination of the applicable VWAP Purchase Valuation Period (as defined in the Tumim Purchase Agreement) for a prior VWAP Purchase Notice delivered by us to Tumim, (iii) all shares subject to all prior VW