Scilex sells 12.5M Semnur shares for $200M Bitcoin; closes Sept 23, 2025

Scilex Holding Co

Scilex sold 12,500,000 Semnur common shares at $16.00/share to Biconomy for $200M in Bitcoin.
Bitcoin payment valued at Coinbase spot rate; closing occurred on September 23, 2025.
Semnur must file a resale registration statement within 90 days of closing.
Scilex engaged Biconomy for cryptocurrency treasury management; proceeds to fund Bitcoin purchases.
Company filed supplemental risk factors on Bitcoin volatility, regulatory and accounting risks.

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