Scilex Holding Company announced the completion of the first tranche of its warrant repurchase from Oramed Pharmaceuticals Inc.
Scilex repurchased 3,130,000 warrants to purchase shares of Scilex common stock, each with an exercise price of $0.01 per share, for a total of $13,000,000.
The company retains an option to repurchase the remaining 3,370,000 warrants from Oramed for $14,000,000 on or before December 31, 2025. This action reduces potential future dilution for Scilex shareholders.
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