SaleJun 29, 2026, 04:07 PM
Datavault AI to Sell 837 BTC to Scilex for $50M
AI Summary
Datavault AI Inc. entered into a binding term sheet with Scilex Holding Company on June 24, 2026, for the proposed sale of 837 Bitcoin (BTC) for $50 million. Scilex will make an initial payment of $30 million, with the remaining $20 million paid in quarterly installments through December 2028. Payment can be made in cash, Scilex common stock, or publicly traded securities of Scilex's subsidiaries. The transaction is subject to the finalization of a definitive agreement and customary closing conditions, with no assurance of consummation.
Key Highlights
- Datavault AI signed a binding term sheet with Scilex on June 24, 2026.
- Company proposes to sell 837 Bitcoin (BTC) from its Biconomy wallet.
- The proposed transaction is valued at $50 million.
- Scilex will make an initial payment of $30 million.
- Remaining $20 million is payable in quarterly installments until December 31, 2028.
- Payment can be cash, Scilex common stock, or subsidiary securities.
- The deal is subject to a definitive agreement and customary closing conditions.
- There is no assurance the transaction will be consummated.
- priority
Price Impact
More from DVLT