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 Junior DIP Term Sheet with Sorrento Therapeutics, Inc. and Scintilla Pharmaceuticals, Inc. (the Debtors) valued at $20,000,000 (effective 2023-07-05).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Sorrento Therapeutics, Inc. and Scintilla Pharmaceuticals, Inc. (the Debtors)
- Value
- $20,000,000
- Effective
- 2023-07-05
Exact text from the filing
On July 5, 2023, the Company and the Debtors executed that certain Debtor-in-Possession Term Loan Facility Summary of Terms and Conditions (the “Junior DIP Term Sheet”), pursuant to which the Company (or its designees or its assignees) will provide the Debtors with a non-amortizing super-priority junior secured term loan facility in an aggregate principal amount not to exceed the sum of (i) $20,000,000 (the “Base Amount”), plus (ii) the amount of the commitment fee and the funding fee, each equal to 1% of the Base Amount, plus (iii) the amount of the DIP Lender Holdback (as defined in the Interim DIP Order) (the “Junior DIP Facility”)
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Scilex Holding Co entered into Subordination Agreement with JMB Capital Partners Lending, LLC (the Senior DIP Lender) (effective 2023-07-05).
- Action
- entry
- Counterparty
- JMB Capital Partners Lending, LLC (the Senior DIP Lender)
- Effective
- 2023-07-05
Exact text from the filing
In connection with the Junior DIP Term Sheet, the Company entered into the Subordination Agreement with the Senior DIP Lender, which specifies that the Junior DIP Facility is subordinated in right of payment and security to the Senior DIP Facility as more fully set forth therein.
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