Scilex amends convertible debentures; maturity extended to March 2024, conversion price reset

Scilex Holding Co

Total outstanding principal of $9.05M under First and Second Convertible Debentures extended from Dec 2023 to Mar 2024.
Default Conversion Price changed to 95% of lowest 5-day VWAP, with a floor of $0.50 per share.
Amended repayment requires $1.59M installment on Oct 17, 2023; final $1.25M payment due Mar 15, 2024.
Company waives all claims against Yorkville and releases related parties from any offsets or counterclaims.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Scilex Holding Co amended Amendment to Convertible Debentures with YA II PN, Ltd. valued at Extension of maturity date from December 21, 2023 to March 15, 2024 (effective 2023-10-11).

Action: amendment
Agreement: notes offering
Counterparty: YA II PN, Ltd.
Value: Extension of maturity date from December 21, 2023 to March 15, 2024
Effective: 2023-10-11

Exact text from the filing

On October 11, 2023 (the “ Amendment Date ”), Scilex Holding Company (the “ Company ”) and YA II PN, Ltd. (“ Yorkville ”) entered into an amendment (the “ Amendment to Convertible Debentures ”) to those certain convertible debentures dated as of (i) March 21, 2023 (as amended, supplemented, waived or otherwise modified from time to time, the “ First Convertible Debenture ”) and (ii) April 11, 2023 (as amended, supplemented, waived or otherwise modified from time to time, the “ Second Convertible Debenture ” and, together with the First Convertible Debenture, the “ Convertible Debentures ”).

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Source: SEC EDGAR

accession 0001193125-23-254137

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