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
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.