Scilex To Sell ~6.67M Newly Issued Shares To iHolding Group at $15 Per Share For $100M In Gross Proceeds

Scilex Holding Company ("Scilex" or the "Company") (NASDAQ: SCLX ), an innovative revenue-generating company focused on acquiring, developing, and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease, today announced the signing of a binding term sheet with iHolding Group LLP ("iHolding"), a private investment group headquartered in Almaty, Republic of Kazakhstan. The term sheet contemplates that iHolding will purchase $100,000,000 of newly issued shares of Scilex common stock. The purchase price for such shares is expected to be $15.00 per share, which would represent approximately 6,666,667 shares. The proposed investment would be used to support Scilex's continued strategic growth, including expansion of its healthcare and medical technology initiatives, product development and commercializ...