Scilex declares preferred stock dividend exchangeable for up to 10% of Semnur ownership; record date Nov 7

Scilex Holding Co

Board declared 5M shares of Series 1 Mandatory Exchangeable Preferred Stock, payable by Jan 6, 2025 to holders of record Nov 7, 2024.
Each preferred share will be exchanged for a pro-rata portion of up to 10% of Scilex's interest in Semnur after the Denali merger.
Business combination with Denali Capital Acquisition Corp. (DECA) expected to close by Q1 2025; Semnur valued at $2.5B pre-transaction.
Syneos Health Consulting projects peak annual sales of $3.6B for SP-102 (SEMDEXA) by 5th year post-launch.

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Scilex Holding Co: Filed Certificate of Designation creating Series 1 Mandatory Exchangeable Preferred Stock (effective 2024-10-28).

Change: charter amendment
Effective: 2024-10-28

Exact text from the filing

On October 28, 2024, in connection with the dividend described below, the board of directors (the “Board”) of Scilex Holding Company (the “Company”) filed a Certificate of Designation of Preferences, Rights and Limitations of Series 1 Mandatory Exchangeable Preferred Stock (the “Certificate of Designation”) with the Secretary of State of the State of Delaware, designating 5,000,000 shares of the Company’s authorized but unissued preferred stock, par value $0.0001 per share, as Series 1 Mandatory Exchangeable Preferred Stock.

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Scilex Holding Co filing history →

Source: SEC EDGAR

accession 0000950170-24-117557

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