Scilex enters $100M equity line, exchanges warrants, gets option to repurchase Penny Warrants

Scilex Holding Co

Equity line with Tumim Stone Capital: up to $100M common stock at 96-97% of lowest VWAP; 150k commitment shares.
Exchange of existing Tranche B warrants (107,142 shares, $36.40 strike) for new warrants (500,000 shares, $40 strike; exp. Oct 2029).
Option to repurchase 6.5M Penny Warrants from Oramed for $27M, plus $1.5M option fee; extends Oramed note maturity to March 2026.
Warrant repurchase contingent on payments by Sep 30 and Dec 31, 2025; full exercise removes make-whole payment.

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