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 commercialization, acquisitions and strategic partnerships, working capital and operational growth, intellectual property expansion, and other general corporate purposes.

The proposed investment remains subject to completion of customary due diligence, the parties’ negotiation and execution of definitive agreements, board approvals, and other customary closing conditions, including receipt of the approval of Scilex’s stockholders and any required regulatory approvals.