What's Going on With Scilex Holding Stock Monday?

Scilex Holding Company (NASDAQ: SCLX ) announced Monday that it has signed a binding term sheet for a proposed $100 million strategic investment from Kazakhstan-based iHolding Group LLP, subject to due diligence, shareholder approval and other customary closing conditions. The proposed investment supports the company’s growth initiatives, including healthcare and medical technology projects. It would also fund product development, commercialization, acquisitions, partnerships, and operational expansion. Scilex Signs Binding Term Sheet The company signed a binding term sheet with iHolding, a private investment group headquartered in Almaty, Kazakhstan. Under the term sheet, iHolding would buy newly issued Scilex common shares at an expected purchase price of $15 per share. The investment would represent approximately 6.67 million shares. It plans to use the proceeds for working c...