Scilex closes second $7.5M convertible debenture tranche with Yorkville

Scilex Holding Co

Issued $7.5M convertible debenture to YA II PN (Yorkville) as second tranche under $25M facility.
Debenture bears 7.00% interest, matures Dec 21, 2023; convertible at $8.00/share.
Conversion limited by 4.99% beneficial ownership cap and 19.9% exchange cap (unless stockholder approval).
Company has optional redemption right at 110% of principal if stock price below conversion price.
Registration statement (Form S-1) filed for resale of conversion shares.

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 Second Convertible Debenture with YA II PN, Ltd. valued at $7,500,000 (effective 2023-04-11).

Action: entry
Agreement: notes offering
Counterparty: YA II PN, Ltd.
Value: $7,500,000
Effective: 2023-04-11

Exact text from the filing

On April 11, 2023, the Company consummated the second closing (the “Second Closing”). In connection with the Second Closing, the Company issued a second convertible debenture dated April 11, 2023 (the “Second Convertible Debenture”) to Yorkville in the principal amount of $7,500,000.

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Scilex Holding Co filing history →

Source: SEC EDGAR

accession 0001193125-23-097796

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