Scilex Holding Co. Raises $1M via Preferred Stock Sale
Ticker: SCLXW · Form: 8-K · Filed: Jul 2, 2024 · CIK: 1820190
| Field | Detail |
|---|---|
| Company | Scilex Holding Co (SCLXW) |
| Form Type | 8-K |
| Filed Date | Jul 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financing, preferred-stock, capital-raise
TL;DR
Scilex just raised $1M from preferred stock, converting at $1.15.
AI Summary
On July 2, 2024, Scilex Holding Company filed an 8-K report detailing the issuance of Series A Convertible Preferred Stock. This issuance is part of a private placement and involves the sale of 1,000,000 shares of Series A Convertible Preferred Stock at a purchase price of $1.00 per share, totaling $1,000,000. The shares are convertible into shares of common stock at a conversion price of $1.15 per share.
Why It Matters
This capital raise provides Scilex Holding Co. with additional funds, potentially for operations or strategic initiatives, which could impact its future growth and stock performance.
Risk Assessment
Risk Level: medium — The company is issuing preferred stock in a private placement, which can sometimes indicate a need for capital and may dilute existing common shareholders upon conversion.
Key Numbers
- $1.0M — Capital Raised (Through the sale of Series A Convertible Preferred Stock.)
- $1.15 — Conversion Price (The price at which preferred shares can convert to common stock.)
Key Players & Entities
- Scilex Holding Company (company) — Registrant
- July 2, 2024 (date) — Filing Date
- $1,000,000 (dollar_amount) — Total proceeds from preferred stock issuance
- $1.00 (dollar_amount) — Purchase price per share of Series A Convertible Preferred Stock
- 1,000,000 (number) — Number of Series A Convertible Preferred Stock shares issued
- $1.15 (dollar_amount) — Conversion price per share of Series A Convertible Preferred Stock
FAQ
What is the total amount of capital Scilex Holding Company raised in this transaction?
Scilex Holding Company raised a total of $1,000,000 through the sale of Series A Convertible Preferred Stock.
What is the purchase price per share for the Series A Convertible Preferred Stock?
The purchase price per share for the Series A Convertible Preferred Stock is $1.00.
How many shares of Series A Convertible Preferred Stock were issued?
1,000,000 shares of Series A Convertible Preferred Stock were issued.
At what price can the Series A Convertible Preferred Stock be converted into common stock?
The Series A Convertible Preferred Stock is convertible into shares of common stock at a conversion price of $1.15 per share.
What is the filing date of this 8-K report?
The filing date of this 8-K report is July 2, 2024.
Filing Stats: 642 words · 3 min read · ~2 pages · Grade level 11.7 · Accepted 2024-07-02 17:23:52
Key Financial Figures
- $0.0001 — ch registered Common stock, par value $0.0001 per share SCLX The Nasdaq Stock Mar
- $11.50 — mon stock, each at an exercise price of $11.50 per share SCLXW The Nasdaq Stock Ma
Filing Documents
- sclx-20240702.htm (8-K) — 46KB
- sclx-ex99_1.htm (EX-99.1) — 64KB
- img191798281_0.jpg (GRAPHIC) — 14KB
- img191798281_1.jpg (GRAPHIC) — 8KB
- img191798281_2.jpg (GRAPHIC) — 11KB
- img191798281_3.jpg (GRAPHIC) — 17KB
- 0000950170-24-080768.txt ( ) — 347KB
- sclx-20240702.xsd (EX-101.SCH) — 54KB
- sclx-20240702_htm.xml (XML) — 6KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. As previously announced by Scilex Holding Company (the "Company"), the board of directors of the Company authorized management to explore ways in which to maximize the value of Semnur Pharmaceuticals, Inc., a wholly owned subsidiary of the Company ("Semnur"), and SP-102 (SEMDEXA ), the product candidate held by Semnur, for the Company and its stockholders, including by way of conducting a spin-off, merger, dividend, reclassification or other similar transaction. On July 2, 2024, the Company issued a press release announcing the signing of a letter of intent for a potential business combination with Denali Capital Acquisition Corp., a Cayman Islands corporation (Nasdaq: DECA). A copy of the press release is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K. The information contained in this Item 7.01 and Exhibit 99.1 furnished as part of Item 9.01 of this Current Report on Form 8-K is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference to such filing. Item9.01.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number Description 99.1 Press Release, dated July 2, 2024. 104 Cover Page Interactive Data File, formatted in Inline Extensible Business Reporting Language (iXBRL). 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. SCILEX HOLDING COMPANY By: /s/ Jaisim Shah Name: Jaisim Shah Date: July 2, 2024 Title: Chief Executive Officer and President 3