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Stock impact report

Semnur Pharmaceuticals, Inc. (“Semnur”), a Majority Owned Subsidiary of Scilex Holding Company (Nasdaq: SCLX, “Scilex”) Announces Signing of a Securities Purchase Agreement with an Institu...

Scilex Holding Company (SCLX) 
clinical late-stage specialty pharmaceutical company focused on the development and commercialization of novel non-opioid pain therapies, today announced that it has entered into a Securities Purchase Agreement (“SPA”) with the institutional investor for the purchase of $100 million of shares of Semnur common stock in exchange for $100 million in Bitcoin (BTC). The institutional investor will receive an aggregate of 6,250,000 shares of Semnur common stock at a purchase price of $16.00 per share (in each case subject to adjustment for stock splits, stock dividends, recapitalizations, reorganizations, reclassification, combinations, reverse stock splits or other similar events occurring after the date of the SPA). The transactions contemplated by the SPA are subject to customary closing conditions, including regarding the accuracy of the parties' respective representations and warranties as well as the performance of the parties' respective covenants, and is expected to close in the n Show less Read more
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