On September 30, 2025, Scilex Holding Co entered into a Warrant Exercise Agreement allowing existing warrant holders to exercise warrants for 179,236 shares at $22.72 each, raising approximately $2.7 million, of which $2.5 million will be used to pay off existing notes. Additionally, new warrants for 275,000 shares at an exercise price of $20.00 were issued under this agreement.