Scilex extends Oramed note maturity to Dec 2025; issues 3.25M shares as consideration

Scilex Holding Co

Maturity date of Oramed Senior Secured Promissory Note extended from March 21, 2025 to December 31, 2025.
SCLX Stock Acquisition JV to deliver 3,250,000 shares of Scilex common stock to Oramed as consideration.
New covenant prohibits increasing compensation or granting additional equity awards to officers/directors while note outstanding.
Cash sweep definition amended; Oramed may redirect prepayments to Tranche B Notes in lieu of principal on Oramed Note.
The extension provides additional time to repay the Oramed Note and aligns with other debt arrangements.

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