Scilex Holding Company Announces Closing of Previously Announced Second Tranche Investment in Datavault AI Inc., Completing Its Two-Tranche Equity Financing in Datavault AI Inc.

Core Insights - Scilex Holding Company has successfully closed the second tranche of its strategic investment in Datavault AI, acquiring shares valued at approximately $583.3 million based on the closing price of Datavault's common stock [1][5]. Company Overview - Scilex is focused on acquiring, developing, and commercializing non-opioid pain management products for treating acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases [3][4]. - The company has several commercial products, including ZTlido® for neuropathic pain, ELYXYB® for acute migraine treatment, and Gloperba® for gout flare prophylaxis [3][4]. Product Development - Scilex has three product candidates in development: - SP-102, a viscous gel for lumbosacral radicular pain, which has completed Phase 3 studies and received Fast Track status from the FDA [4]. - SP-103, a next-generation lidocaine topical system for acute pain, which has recently completed a Phase 2 trial [4]. - SP-104, a low-dose naltrexone for fibromyalgia treatment, is also under development [6]. Strategic Investment - The strategic investment in Datavault AI involves the purchase of a pre-funded warrant for 263,914,094 shares of Datavault AI common stock, with the transaction being approved by Datavault's stockholders [5]. - Both companies plan to enhance collaboration to drive growth in Real World Asset tokenization starting in 2026 [5]. Datavault AI Overview - Datavault AI specializes in AI-driven data experiences and asset monetization, offering solutions across various industries, including biotech, fintech, and healthcare [7]. - The company’s platform includes technologies for audio transmission and high-performance computing, enabling secure monetization and data analytics [7].