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