Scilex Holding Company announced the closing of the initial tranche of its previously announced $150 million Bitcoin (BTC) investment in Datavault AI Inc.
At the closing of this initial tranche, Scilex received 15,000,000 shares of Datavault common stock. The remainder of the investment is expected to be issued in a second tranche in the form of a pre-funded warrant to purchase Datavault common stock, pending Datavault stockholder approval.
This investment is intended to provide growth capital to Datavault AI, supporting its supercomputing infrastructure and expansion into AI-driven data visualization, valuation, and monetization, particularly in the biotech sector.
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