06:43 AM EDT, 07/06/2026 (MT Newswires) -- Scilex ( SCLX ) signed a binding term sheet to sell approximately 6.67 million newly issued shares to Kazakhstan-based private investment vehicle iHolding for $100 million, the company said Monday.

The purchase price is expected to be $15.00 per share.

Scilex ( SCLX ) said it plans to use the proceeds to support strategic growth initiatives, including healthcare and medical technology expansion, product development and commercialization, acquisitions and strategic partnerships, working capital, intellectual property expansion, and other general corporate purposes.

The proposed investment remains subject to customary due diligence, negotiation, and execution of definitive agreements, board approvals, shareholder approval, any required regulatory approvals, and other closing conditions.