Scilex Holding Company, Following its Prior Announcement of the Record Date for a Dividend of Preferred Stock, Reiterates Information Previously Provided to Scilex Stockholders Regarding Manipulative and Naked Short Selling of Scilex Common Stock

Core Viewpoint - Scilex management is actively working to enhance stockholder value and protect stockholder rights by addressing manipulative and naked short selling practices affecting its common stock [1][5][3] Summary by Relevant Sections Stockholder Actions - Scilex has set a record date of November 7, 2024, for the dividend of preferred stock to stockholders, with the payment date yet to be determined [1] - Stockholders are encouraged to recall their shares from brokerage firms and demand immediate delivery of Dividend Shares previously distributed by Sorrento Therapeutics [2][8] Short Selling Concerns - Management believes there are over 12 million shares of Scilex common stock sold short, with more than 10 million Dividend Shares sold as "naked short" positions since January 2023 [3][5] - There are substantial "naked short" positions in approximately 44 million shares that did not cast votes in prior annual meetings, indicating potential violations of SEC Regulation SHO [3][4] Company Background - Scilex Holding Company focuses on acquiring, developing, and commercializing non-opioid pain management products for acute and chronic pain [14][15] - The company has several commercial products, including ZTlido®, ELYXYB®, and Gloperba®, and is developing additional product candidates [14][15]