Scilex Holding Company to Go Public in $1.64 Billion Merger with Vickers Vantage Corp. I

March 18, 2022

Palo Alto – Paul Hastings LLP, a leading global law firm, announced today that the firm advised Scilex Holding Company in its agreement to merge with Vickers Vantage Corp. I (VCKA), a special purpose acquisition company (SPAC). The combined company is expected to have a pro forma equity value post-money of approximately $1.64 billion, subject to potential adjustment, and with up to $140 million in expected gross proceeds before expenses, assuming no redemptions from Vickers Vantage Corp. I’s existing public shareholders.

The combined company will be named Scilex Holding Company, and is expected to be listed on Nasdaq under the new ticker symbol “SCLX.”  The transaction is expected to close by the third quarter of 2022, subject to the approval of VCKA’s shareholders and the satisfaction or waiver of certain other customary closing conditions.

Funds from the transaction will be used for, among other things, the potential registration and commercialization of SP-102 (SEMDEXA™) in 2023 and further development of the other existing non-opioid clinical programs for high unmet need acute and chronic pain conditions.

The Paul Hastings team included partners Jeff Hartlin and Samantha Eldredge, and associates, Vinnie Buehler, Sean Murphy, Youssef Aziz, and Rose Lu.

Dedicated to helping the world’s leading Wall Street and global investment banks, asset managers and corporations achieve their business and legal goals, Paul Hastings is a premier global finance law firm with elite teams in finance, mergers and acquisitions, private equity and litigation. We are one of only a handful of law firms ranked across multiple core finance areas including: structured credit, leveraged finance, private credit, capital markets and real estate finance.

Our unmatched client service has helped us become one of the legal profession’s most admired firms, known for a diverse and highly collaborative culture that delivers innovative solutions.


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