InvestmentJun 29, 2026, 05:06 PM
Scilex to acquire 837 BTC from Datavault for $50M
AI Summary
Scilex Holding Co entered into a binding term sheet with Datavault AI Inc. to acquire 837 Bitcoin for $50 million. The payment structure includes an initial $30 million, with the remaining $20 million paid in quarterly installments through 2028, using cash, common stock, or subsidiary securities at Scilex's discretion. The transaction is subject to a definitive agreement and customary closing conditions, with no assurance that it will be consummated as described or at all, and may involve unregistered sales of Scilex's common stock.
Key Highlights
- Scilex entered a binding term sheet with Datavault AI Inc. on June 24, 2026.
- Proposed purchase of 837 Bitcoin (BTC) from Datavault.
- Total purchase price for the BTC is $50 million.
- Initial payment of $30 million will be made.
- Remaining $20 million payable in quarterly installments until December 31, 2028.
- Payment can be made in cash, common stock, or subsidiary securities.
- Potential issuance of common stock in a private placement, exempt from registration.
Price Impact
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