Scilex completes first tranche of Oramed warrant repurchase

Scilex Holding Company (SCLX) repurchased 3,130,000 warrants to purchase shares of Scilex common stock having an exercise price of $0.01 per share from Oramed Pharmaceuticals (ORMP) for $13,000,000. As previously disclosed, Scilex entered into an option agreement with Oramed for the repurchase of Warrants, pursuant to which, among other things, Oramed granted an option to Scilex to repurchase 6,500,000 warrants in two tranches for an aggregate purchase price of $27,000,000. Scilex continues to have the option to repurchase the remaining 3,370,000 warrants from Oramed for $14,000,000 on or before December 31, 2025.