Scilex and B. Riley mutually terminate $500M Standby Equity Purchase Agreement

Scilex Holding Co

Termination effective February 16, 2024; mutual agreement of Scilex and B. Riley.
SEPA dated January 8, 2023 provided for sale of up to $500M in common stock.
No reason for termination disclosed; eliminates future equity draws under SEPA.
No other material terms or penalties associated with termination mentioned.

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 terminated Standby Equity Purchase Agreement with B. Riley Principal Capital II, LLC valued at up to $500.0 million (effective 2024-02-16).

Action: termination
Agreement: equity purchase
Counterparty: B. Riley Principal Capital II, LLC
Value: up to $500.0 million
Effective: 2024-02-16

Exact text from the filing

On February 16, 2024, Scilex Holding Company (the “Company”) and B. Riley Principal Capital II, LLC (“B. Riley”) mutually agreed to terminate the Standby Equity Purchase Agreement, dated as of January 8, 2023, between the Company and B. Riley (the “SEPA”).

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Source: SEC EDGAR

accession 0001193125-24-039238

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