Scilex Holding Co Files 8-K

TL;DR

Scilex filed an 8-K on July 8th, likely a material event disclosure.

AI Summary

On July 8, 2024, Scilex Holding Company filed an 8-K to disclose a Regulation FD event. The filing does not contain specific details about the event itself, only the reporting of it.

Why It Matters

This filing indicates a material event has occurred that Scilex Holding Co is required to disclose to the public under Regulation FD.

Risk Assessment

Risk Level: medium — The filing itself is routine, but the underlying event it reports could be significant, making the risk level medium until more information is available.

Key Players & Entities

• Scilex Holding Co (company) — Registrant
• July 8, 2024 (date) — Date of Report

FAQ

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
• $3.5 million — o the Company to settle the Action: (i) $3.5 million by two business days after the Effectiv
• $2.5 million — ein), which payment has been made; (ii) $2.5 million by July 1, 2024 and (iii) to the extent

Filing Documents

• sclx-20240708.htm (8-K) — 40KB
• 0000950170-24-082027.txt ( ) — 195KB
• sclx-20240708.xsd (EX-101.SCH) — 54KB
• sclx-20240708_htm.xml (XML) — 6KB

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure. As previously disclosed by Scilex Holding Company (the "Company"), on March 12, 2021, Scilex Pharmaceuticals Inc., the Company's wholly owned subsidiary ("Scilex Pharma"), and Sorrento Therapeutics, Inc. ("Sorrento", together with Scilex Pharma, the "Plaintiffs") filed an action (the "Action") in the Delaware Court of Chancery (the "Court") against the former President of Scilex Pharma, Anthony Mack, and Virpax Pharmaceuticals, Inc. ("Virpax", together with Anthony Mack, the "Defendants"), a company founded and then headed by Mr. Mack, alleging, among other things, breach by Mr. Mack of a restrictive covenant agreement with Sorrento related to his sale of his Scilex Pharma stock to Sorrento, tortious interference with that agreement by Virpax, breach of Mr. Mack's fiduciary duties to Scilex Pharma, aiding and abetting of that breach by Virpax, and misappropriation of Scilex Pharma's trade secrets by Mr. Mack and Virpax. Also as previously disclosed by the Company, on February 29, 2024, the Company and Virpax entered into a settlement agreement, which provides for, among other things, that Virpax is obligated to make the following payments to the Company to settle the Action: (i) $3.5 million by two business days after the Effective Date (as defined therein), which payment has been made; (ii) $2.5 million by July 1, 2024 and (iii) to the extent any of the following drug candidates are ever sold, royalty payments of (a) 6% of annual Net Sales (as defined therein) of Epoladerm, (b) 6% of annual Net Sales of Probudur and (c) 6% of annual Net Sales of Envelta. Such royalty payments will end upon (i) expiration of the last-to-expire valid patent claim of Virpax or its licensor covering the manufacture, use or sale of such product in such country; and (ii) expiration of any period of regulatory exclusivity for such product in such country. On July 8, 2024, the Company received the $2.5 million that was due on July 1, 2024. Plainti

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 8, 2024 Title: Chief Executive Officer and President 3

View Full Filing

View this 8-K filing on SEC EDGAR