Scilex enters $500M standby equity facility with B. Riley; can sell shares at 98% of VWAP

Scilex Holding Co

Up to $500M of common stock may be sold to B. Riley at 98% of VWAP during pricing periods.
Commitment fee: 250,000 shares issued to B. Riley plus $10,000 structuring fee.
Facility available for 36 months after SEC declares registration statement effective.
Company controls timing and amount of advances; each advance limited by share volume and $4.87 price floor for exchange cap relief.
Unregistered shares issued under Section 4(a)(2); no public offering immediately.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Scilex Holding Co entered into Standby Equity Purchase Agreement with B. Riley Principal Capital II, LLC valued at up to $500,000,000 (effective 2023-01-08).

Action: entry
Agreement: equity purchase
Counterparty: B. Riley Principal Capital II, LLC
Value: up to $500,000,000
Effective: 2023-01-08

Exact text from the filing

On January 8, 2023, Scilex Holding Company (the “Company”) entered into a Standby Equity Purchase Agreement (the “Purchase Agreement”) with B. Riley Principal Capital II, LLC, a Delaware limited liability company (“B. Riley”).

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38 material agreements filed in the last 30 days. Browse all material agreements →

Scilex Holding Co filing history →

Source: SEC EDGAR

accession 0001193125-23-004041

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