Scilex Holding Co

Scilex Holding Company held its 2026 Annual Meeting of Stockholders on June 24, 2026. Stockholders voted on three proposals, all of which passed. These included the election of Dorman Followwill as a Class I director, the ratification of BPM LLP as the company's independent auditor for fiscal year 2026, and the approval of an amendment to the 2022 Equity Incentive Plan to increase authorized shares by 1,300,000.

Scilex Holding Company announced that its Dream Bowl I Meme Coin tokens are scheduled to list on Biconomy Exchange as early as June 23, 2026. The company believes this listing will enhance liquidity and facilitate broad distribution for Participating Holders. Biconomy Exchange is a significant global platform, serving over 10 million users and ranking among the top 40 exchanges by trading volume. Stockholders as of April 30, 2026, were entitled to receive five Dream Bowl Tokens per share, with distribution commencing on May 26, 2026.

Scilex Holding Company announced that its board of directors has set June 15, 2026, as the payment date for the previously announced dividend of Semnur Pharmaceuticals, Inc. common stock. Participating holders of Scilex securities as of the June 1, 2026 record date will receive one share of Semnur common stock for each share of Scilex common stock held. Scilex plans to distribute approximately 14.0 million shares of Semnur to eligible holders, with the payment being conditional on the Board not revoking the dividend.

Scilex Holding Company announced that its board of directors approved a dividend of Semnur Pharmaceuticals, Inc. common stock to its stockholders and other eligible equityholders. The record date for the dividend is set for June 1, 2026, with participating holders receiving one share of Semnur common stock for each share of Scilex common stock. Scilex intends to distribute approximately 10.7 million shares of Semnur common stock, with the payment date to be determined within 60 days following the record date, subject to Board approval and conditions.

Scilex Holding Co. reported a significant increase in net loss for Q1 2026, reaching $45.65 million, compared to $26.08 million in Q1 2025. This widening loss occurred despite a 72.1% rise in net revenue to $8.61 million. The company also saw a shift to negative cash flow from operations and reported substantial unrealized losses on digital assets and equity method investments.

Scilex Holding Co. announced a dividend of Dream Bowl Meme Coin I tokens to eligible equity holders, including common stock, warrants, convertible notes, and Series A Preferred Stock. The distribution ratio is five tokens for each share of common stock (or underlying security) held as of the April 30, 2026 record date, with payments starting May 26, 2026. Recipients must set up a Datavault digital wallet and submit an Opt-In Agreement to receive the tokens, which have a fair market value of $0.00000145 each and are intended for non-commercial use.

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.

Scilex Holding Company announced that its board of directors has fixed May 26, 2026, as the payment date for the previously announced dividend of Dream Bowl Meme Coin I tokens. Record holders as of April 30, 2026, will receive five tokens for each share of common stock held. Scilex plans to distribute approximately 81.4 million tokens and intends to list them on the Biconomy exchange in the second quarter of 2026 to provide liquidity. The payment is conditional, and the Board may change the date or revoke the dividend prior to the Payment Date.

Scilex Holding Co. will hold its 2026 Annual Meeting virtually on June 24, 2026, where stockholders will vote on the election of Dorman Followwill as a Class I director, the ratification of BPM LLP as auditor, and an amendment to the 2022 Equity Incentive Plan to increase authorized shares by 1.3 million to 2,765,789. The company also disclosed a new lawsuit filed on April 3, 2026, by former Sorrento equity holders, alleging wrongful conduct related to Sorrento's bankruptcy and subsequent transactions, which Scilex intends to vigorously defend.

Scilex Holding Co. entered a binding term sheet with Datavault AI Inc. for a proposed cash contribution and revenue participation arrangement. Scilex will provide an upfront cash contribution of $120,000,000 to fund Datavault's deployment of quantum-ready GPU infrastructure across 100 US cities. In return, Datavault will pay Scilex a percentage of gross revenues from this network, starting at 30% until $250 million, then 15% until $1.2 billion, and 5% thereafter. The agreement includes customary provisions, but there is no assurance that the definitive agreement will be entered into or that the transaction will be consummated.