Scilex raises $20.3 million through warrant exercise agreement

Scilex Holding Company (NASDAQ: SCLX) announced it entered into an agreement for the exercise of existing warrants that will generate approximately $20.3 million in gross proceeds.

The agreement covers the exercise of 428,572 shares of common stock at $38.50 per share from warrants issued in April 2024, and 475,824 shares at $22.72 per share from warrants issued in December 2024, according to the company's statement.

In exchange for the immediate cash exercise of these warrants, Scilex will issue a new unregistered warrant allowing the purchase of up to 1,356,594 shares at $29.00 per share. The new warrant becomes exercisable immediately upon issuance and has a five-year term.

The transaction is expected to close on or about November 25, 2025, subject to customary closing conditions. Rodman & Renshaw LLC and StockBlock Securities LLC are serving as exclusive placement agents for the offering.

Scilex stated it plans to use the net proceeds for working capital and general corporate purposes. The company focuses on acquiring, developing and commercializing non-opioid pain management products for acute and chronic pain treatment.

The new warrant is being offered through a private placement under Section 4(a)(2) of the Securities Act of 1933 and has not been registered under federal securities laws. Scilex agreed to file a registration statement with the Securities and Exchange Commission covering the resale of shares issuable upon exercise of the new warrant.

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