NEWS
Scilex Holding Company Announces Signing of a $50 Million Registered Convertible Financing to Refinance and Restructure Existing Debt & Further Strengthens Financial Profile
Affiliates of Murchinson, 3i LP, and existing senior debt holder, Oramed Pharmaceuticals, Inc. ("Oramed"), are expected to participate in the $50 million convertible note offering, which is expected to close on or about October 7, 2024.The offering involves a refinancing and restructuring of existing debt and is expected to position Scilex for sustainable, long-term growth, as part of its multi-year plan to transform into a potential global and leading non-opioid pain management company.Scilex will receive from Oramed in consideration for the newly issued convertible note issued to Oramed an exchange and reduction of the principal balance under the Company's existing Senior Secured Promissory Note with Oramed (the "Oramed Note").Over the past 12 months, Scilex has aggressively addressed and restructured the debt on our balance sheet with payments of more than $80 million.The new financing will allow Scilex to retire the revolving facility with eCapital Healthcare Corp. in its entirety.As previously announced, on June 11, 2024, Scilex has successfully eliminated a $10.0 million loan with FSF 33433 LLC.
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小泰啦 :
this dip orchestrated for co to buy low?
Jaguar8 OP 小泰啦 : This dip is because of dilution secondary to offering which effectively increases shares
小泰啦 Jaguar8 OP : understood. happen to see a 20k buy at the moment of dip![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Jaguar8 OP 小泰啦 : Retailers try to take advantage of dip when offering is made. For me, I’ll wait for the dippest of dips![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
小泰啦 Jaguar8 OP : count me in, I'll follow u