Scilex Invests $150 Million in Datavault AI for Strategic Bitcoin Initiative

According to Foresight News, Nasdaq-listed company Scilex has announced a strategic investment of $150 million in Datavault AI, focusing on Bitcoin. Scilex is set to acquire a total of 278,914,094 shares of Datavault common stock at an actual purchase price of $0.5378 per share. Of these, 15,000,000 shares will be issued upon the completion of Scilex's initial investment, while the remaining shares will be issued in the form of pre-financing warrants during the second phase. Scilex aims to leverage its expertise in the biotechnology and pharmaceutical sectors to develop a potential trading platform for Real World Assets (RWA) within these industries. This strategic move is part of Scilex's broader plan to integrate advanced technologies into its operations, enhancing its capabilities in the biotech and pharma markets.