Scilex Holding Company announced that it has entered into a material definitive agreement for a private placement of term loan for gross proceeds of $100 million on June 11, 2024. The transaction will include participation from new lender FSF 33433 LLC. The Commitment Amount shall be payable as $85 million no later than the date that is 70 days following the date on which the Company receives the Deposit and the funding of the initial $85 million and the remaining $15 million within 60 days following the Initial Closing.

The Deposit Warrant will be immediately exerciseable and will expire on the fifth anniversary of the date of issuance. The exercise price of deposit warrant will be $1.20 per share.