Scilex Holding Company Reports Completion of Warrant Exercise, Generating $20.3 Million in Gross Proceeds

Warrant Exercise Announcement: Scilex Holding Company announced the closing of the exercise of existing warrants, resulting in the purchase of 904,396 shares of common stock at a reduced exercise price, generating approximately $20.3 million in gross proceeds.

New Warrant Issuance: In exchange for the immediate cash exercise of the existing warrants, Scilex issued a new unregistered warrant for 1,356,594 shares at an exercise price of $29.00, which is exercisable immediately for five years.

Use of Proceeds: The company plans to utilize the net proceeds from the offering for working capital and general corporate purposes.

Product Development Focus: Scilex is dedicated to developing non-opioid pain management products and has several commercial products and candidates in its pipeline, targeting high unmet medical needs in pain management and related conditions.