AcquisitionsMay 5, 2026, 01:02 PM
Scilex Subsidiary ACEA Thera Sells ACEA Pharma for $1B
AI Summary
Scilex Holding Company announced that its indirect subsidiary, ACEA Therapeutics, Inc. (ACEA Thera), will sell 100% of its wholly-owned subsidiary, ACEA Pharma, Inc., to Phoenix Asia Holdings Limited. The acquisition is valued at $1 billion, with ACEA Thera receiving 100,000,000 newly-issued ordinary shares of Phoenix. Upon closing, Phoenix will be renamed ACEA Pharma, Inc., and its common stock is expected to be listed on Nasdaq, with ACEA Thera owning approximately 82% of the combined entity.
Key Highlights
- Scilex's indirect subsidiary, ACEA Thera, to sell 100% of ACEA Pharma to Phoenix Asia Holdings Limited.
- The acquisition is valued at $1,000,000,000.
- Consideration involves 100,000,000 newly-issued Phoenix ordinary shares at $10.00 per share.
- Upon closing, Phoenix will be renamed ACEA Pharma, Inc. and listed on Nasdaq.
- The transaction is expected to close by the end of the second quarter of 2026.
- ACEA Thera anticipates owning approximately 82% of the Go-Forward Company.
- Boards of directors of ACEA Thera, ACEA Pharma, and Phoenix unanimously approved the deal.