Scilex Secures $100M Investment at $15 per Share from iHolding Group
SCLX•Scilex Holding Company signed a binding term sheet with Kazakhstan’s iHolding Group LLP for a $100 million investment at $15 per share, equating to roughly 6.67 million new shares. The proceeds will fund expansion of healthcare initiatives, product development and commercialization, strategic acquisitions and partnerships, and bolster working capital.
1. Binding Term Sheet and Investment Terms
Scilex signed a binding term sheet under which iHolding Group LLP will purchase $100 million of newly issued common stock at $15 per share, representing approximately 6.67 million shares. This strategic investment values the company’s equity and provides substantial capital infusion for ongoing operations.
2. Strategic Use of Funds
Scilex plans to deploy the investment to expand its healthcare initiatives, advance product development and commercialization of its non-opioid pain management portfolio, pursue strategic acquisitions and partnerships, and strengthen its working capital base.
3. iHolding Group Background
iHolding Group LLP is a private investment vehicle based in Almaty, Republic of Kazakhstan, with a focus on healthcare, technology and cross-border strategic investments. The group aims to leverage its capital to foster international biotech collaborations and regional pharmaceutical growth.
4. Closing Conditions and Timeline
The proposed investment remains subject to customary due diligence, negotiation and execution of definitive agreements, board and stockholder approvals, and any required regulatory clearances. Final closing is expected to occur following fulfillment of these conditions.
