Scilex Holding Company Announces 5-Year Term of $100 Million Financing with Royalty-Based Payments and Potential Strategic Transactions with Perigrove and its Portfolio Companies
Scilex Holding Company (SCLX)
Company Research
Source: GlobeNewswire
PALO ALTO, Calif., June 11, 2024 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or the “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that it has entered into a commitment letter (the “Commitment Letter”) with Perigrove LLC and Graf Holdings (collectively the “Lender”) for a $100 million 5-year term financing with royalty-based payments (“Commitment”). The Company intends to use the funds to repay the outstanding amount of its existing senior secured loan provided by Oramed Pharmaceuticals Inc., which is approximately $85 million. The Company intends to use the rest of the funds raised, which is estimated to be $15 million, for general corporate purposes. In connection with the transaction, upon receipt of the Commitment funds, the Company will issue to the Lender a warrant to purchase up to an aggregat
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SCLX
News
- Scilex Holding Company Partners with New National Distributor, Endeavor Distribution LLC.GlobeNewswire
- Scilex Holding (NASDAQ: SCLX) had its "buy" rating re-affirmed by analysts at HC Wainwright. They now have a $7.00 price target on the stock.MarketBeat
- Scilex Holding Company Announces Publication in PAIN Journal Regarding Phase 3 Results of the Pivotal Registration Trial of SP-102 (SEMDEXA™) in Lumbosacral Radicular Pain (Sciatica)GlobeNewswire
- Scilex Holding Company to Present Poster on ELYXYB® (celecoxib oral solution) at the 66th Annual Scientific Meeting of the American Headache Society (AHS) to be Held in San Diego, CA on June 13-16, 2024GlobeNewswire
- Scilex Holding (NASDAQ: SCLX) is now covered by analysts at Rodman & Renshaw. They set a "buy" rating and a $13.00 price target on the stock.MarketBeat
SCLX
Earnings
- 5/13/24 - Miss
SCLX
Sec Filings
- 6/21/24 - Form 8-K
- 6/20/24 - Form 4
- 6/20/24 - Form 4
- SCLX's page on the SEC website