{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-242508","form_type":"8-K","ticker":"SCLX","cik":"0001820190","company_name":"Scilex Holding Co","filed_at":"2023-09-26T23:59:59+00:00","discovered_at":"2026-05-14T18:03:35.437621+00:00","generated_at":"2026-06-10T08:49:13.645474+00:00","sec_items":["1.01","1.02","2.03","3.02","5.01","7.01","9.01"],"event_type":"other_material","sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Scilex issues $101.9M note to Oramed, buys back ~60M shares from Sorrento","bullets":["Issued $101.875M senior secured note to Oramed (due March 2025, interest at Term SOFR+8.5%, PIK).","Issued warrants to Oramed for 13M shares (4.5M closing, 8.5M subsequent) at $0.01 per share; transferred 4M existing $11.50 warrants.","Purchased from Sorrento 60,068,585 common shares, 29,057,097 Series A preferred, and warrants for 4,490,617 shares at $11.50.","Consideration: assumption of $100M DIP facility, credit bid of Junior DIP, $10M cash, and ~$12.25M legal fee assumption.","Sorrento's ownership reduced to ~1.9M shares held in abeyance; Oramed gets Board Observer right."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-242508","json":"https://secwatch.observer/filing/0001193125-23-242508.json","markdown":"https://secwatch.observer/filing/0001193125-23-242508.md","text":"https://secwatch.observer/filing/0001193125-23-242508.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1820190/000119312523242508/0001193125-23-242508-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1820190/000119312523242508/d537034d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-10T08:49:13.645474+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"d9db18bc7966f1b3b2067f27b418234886dddb0f","claim":"Scilex Holding Co underwent a change of control involving Sorrento Therapeutics, Inc. (closed 2023-09-21).","evidence_excerpt":"Upon the closing of the transactions contemplated by the Sorrento SPA and the Company’s purchase of, and Sorrento’s sale of, the Purchased Securities, Sorrento no longer holds a majority of the voting power of the Company’s outstanding capital stock entitled to vote.","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/1820190/000119312523242508/0001193125-23-242508-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"change of control"},{"label":"Counterparty","value":"Sorrento Therapeutics, Inc."},{"label":"Closing","value":"2023-09-21"}],"fact_type":"ma_transaction"},{"claim_id":"3986116305a3dc75a41285ddf8e28433ff9b262a","claim":"Scilex Holding Co entered into Securities Purchase Agreement with Oramed Pharmaceuticals Inc. valued at Issued senior secured promissory note of $101,875,000, warrants for 13,000,000 shares of common stoc (effective 2023-09-21).","evidence_excerpt":"On September 21, 2023 (the “ Closing Date ”), the Company entered into, and consummated the transactions contemplated by, a Securities Purchase Agreement (the “ Scilex-Oramed SPA ”) with Oramed and the Agent (as defined below).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1820190/000119312523242508/0001193125-23-242508-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Oramed Pharmaceuticals Inc."},{"label":"Value","value":"Issued senior secured promissory note of $101,875,000, warrants for 13,000,000 shares of common stoc"},{"label":"Effective","value":"2023-09-21"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}