03:27 PM EST, 11/25/2025 (MT Newswires) -- Scilex ( SCLX ) said Tuesday it closed the previously announced cash exercise of certain existing warrants, generating about $20.3 million in gross proceeds.

The company said holders exercised 428,572 warrants issued in April 2024, and 475,824 warrants issued in December 2024 at a reduced price of $22.51 per share.

In exchange, Scilex ( SCLX ) issued a new unregistered five-year warrant to purchase up to 1.4 million shares at $29.

The company said it expects to use the proceeds for working capital and general corporate purposes.

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