NEWS
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 (Nasdaq: SCLX) has entered into a commitment letter with Perigrove and Graf Holdings for a $100 million 5-year term financing with royalty-based payments. The funds will be used primarily to repay an existing $85 million senior secured loan from Oramed Pharmaceuticals, with $15 million allocated for general corporate purposes. The financing includes the issuance of a warrant to purchase up to 32.5 million shares of Scilex's common stock at $1.20 per share. If the Commitment is not funded, the deposit will convert into an unsecured loan with a 5-year maturity and an interest rate based on either a percentage of net sales or 12% per year. This financing aims to eliminate existing debt and improve Scilex's cash position, allowing for reinvestment in their commercial products.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Spread kindness and love. Life is short. Don’t let greed eat you.
1014Followers
63Following
6844Visitors
Follow
103216711 : is this bad or good for the future of a company