Datavault AI completes second tranche with Scilex for 1,237.6 Bitcoin

Datavault AI (NASDAQ: DVLT) completed the second tranche of its equity financing with Scilex Holding Company (NASDAQ: SCLX), issuing a pre-funded warrant exercisable for approximately 263.91 million shares in exchange for approximately 1,237.6 Bitcoin, according to a company statement.

The transaction followed approval by Datavault AI stockholders at the company's annual meeting on November 24, 2025. Stockholders approved the share issuance and an amendment to increase authorized shares of common stock.

This second tranche follows Datavault's initial closing on September 26, 2025, which involved Bitcoin valued at approximately $8 million. The company stated the financing aims to strengthen digital asset reserves, accelerate supercomputing infrastructure, support platform expansion, and develop new revenue streams.

Under a separate licensing agreement, Datavault granted Scilex a worldwide exclusive license for its AI technology within the biotech and biopharma industry. Scilex will pay Datavault a nonrefundable upfront license fee totaling $10 million in four equal installments of $2.5 million each, due by December 31, 2025, March 31, 2026, June 30, 2026, and September 30, 2026.

Datavault is also eligible for sales milestone payments of up to $2.55 billion upon Scilex achieving certain sales targets, according to the agreement terms.

"We are delighted to welcome Scilex as a major stockholder in Datavault AI," stated Datavault CEO Nathanial Bradley.

Scilex CEO Henry Ji said the collaboration aligns with the biotech sector's need for advanced data analytics and AI-driven insights.

Datavault AI provides data monetization and real-world asset tokenization technologies, while Scilex focuses on non-opioid pain management products and has commercial products including ZTlido and ELYXYB.

You May Also Be Interested In

• Bernstein SocGen Group Starts Terawulf Inc. (WULF) at Outperform
• Beyond Meat director resigns from board after seven months
• Aeva Technologies files mixed shelf offering registration