secwatch.observer — SEC 8-K summary
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Issuer:     Scilex Holding Co (SCLX)
CIK:        0001820190
Form:       8-K
Filed at:   2025-12-05T23:59:59+00:00
Accession:  0001193125-25-309695
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Scilex secures up to $50M non-recourse loan secured by 39.2M shares of Datavault AI (DVLT)
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- Loan of up to $50M in tranches at 12-month SOFR + 2.0% interest, maturity 4 years from first tranche.
- Collateral: approx. 39.2M shares of Datavault AI (DVLT) common stock, held in securities account with lender.
- Events of default include 20% decline in DVLT closing price not cured in 3 days by additional collateral, or 20% volume drop over 3 days.
- Upon default, interest rate increases by 5% and lender can foreclose on pledged shares; prepayment blocked for first 20 months.
- Loan is non-recourse (limited to pledged assets); upfront fee of 0.25% per tranche.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1820190/000119312525309695/0001193125-25-309695-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1820190/000119312525309695/sclx-20251201.htm
  HTML page:      https://secwatch.observer/filing/0001193125-25-309695

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer