10:34 AM EDT, 09/23/2025 (MT Newswires) -- Scilex ( SCLX ) said Tuesday it signed a securities purchase agreement with an unnamed institutional investor to exchange $200 million of stock of its majority-owned Semnur Pharmaceuticals for the same amount in bitcoin (BTC-USD).

The company said the deal covers 12.5 million Semnur shares at $16 each and is expected to close Tuesday, subject to customary conditions.

Scilex ( SCLX ) also said it has engaged Biconomy.com to advise on future cryptocurrency strategies, including treasury management and reserve building.

Shares of Scilex ( SCLX ) were up 5% in recent trading.

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