Scilex Holding Company Announces 1-for-35 Reverse Stock Split

Core Viewpoint - Scilex Holding Company will implement a reverse stock split at a ratio of 1-for-35 effective April 15, 2025, to comply with Nasdaq's minimum bid price requirement of $1.00 per share [1][2]. Company Overview - Scilex is focused on acquiring, developing, and commercializing non-opioid pain management products for acute and chronic pain, as well as treatments for neurodegenerative and cardiometabolic diseases through a proposed joint venture with IPMC Company [1][8][9]. - The company’s commercial products include ZTlido®, ELYXYB®, and Gloperba®, targeting high unmet needs in pain management [9][10]. Reverse Stock Split Details - The reverse stock split will reduce the number of outstanding shares from approximately 243 million to about 6.9 million [4]. - The split will not affect the authorized number of shares, and stockholders will receive cash payments for any fractional shares [3][5]. - The reverse stock split was approved by stockholders on March 19, 2025, with the board of directors selecting the 1-for-35 ratio on April 3, 2025 [5]. Trading Information - Post-split, Scilex's common stock will continue trading on The Nasdaq Capital Market under the symbol "SCLX" with a new CUSIP number [2]. - Continental Stock Transfer & Trust Company will manage the exchange process for stockholders [6].