Scilex Holding Company to Exchange Subsidiary Shares for Bitcoin

According to PANews, Scilex Holding Company, listed on NASDAQ under the ticker SCLX, has announced a securities purchase agreement with institutional investors. The agreement involves exchanging common stock of its majority-owned subsidiary, Semnur Pharmaceuticals, Inc., valued at $200 million, for an equivalent value in Bitcoin. Under the terms of the agreement, institutional investors will purchase a total of 12,500,000 shares of Semnur common stock at a price of $16 per share. The transaction is expected to be completed around September 23, 2025.