NOTICE OF POSTPONEMENT OF 2023 ANNUAL MEETING OF STOCKHOLDERS
Dear Stockholders of Scilex Holding Company:
Notice is hereby
given that the 2023 Annual Meeting of Stockholders (the Annual Meeting) of Scilex Holding Company, a Delaware corporation (the Company or Scilex), which was originally scheduled for Thursday, April 6,
2023 at 9:00 a.m. Pacific Time, has been postponed and rescheduled for Monday, April 17, 2023 at 9:00 a.m. Pacific Time via live audio webcast on the Internet at
www.virtualshareholdermeeting.com/SCLX2023.
As the Company previously announced, there are more than 44 million shares of the
Companys common stock, par value $0.0001 per share (Common Stock), that have not yet been reported by brokers, banks and other nominees (collectively, brokerage firms) to Broadridge Financial Solutions, Inc.
(Broadridge), an independent third party that collects and tabulates stockholder votes for the upcoming Annual Meeting. On March 9, 2023, Broadridge distributed the proxy materials for the Annual Meeting (the Proxy
Materials) to all Scilex stockholders of record as of March 6, 2023, the record date for the Annual Meeting (the Record Date).
On
April 4, 2023, Sorrento Therapeutics, Inc. (Sorrento), our controlling stockholder, announced that the U.S. Bankruptcy Court for the Southern District of Texas entered an order compelling specified brokerage firms to produce non-privileged written responses to Sorrento providing certain information related to the record and beneficial ownership of our Common Stock received by Sorrentos stockholders in connection with
Sorrentos previously announced dividend of 76,000,000 shares of our Common Stock held by Sorrento. The order was executed in connection with Sorrentos chapter 11 case, which was filed on February 13, 2023.
As a result of the foregoing, the Company has determined to postpone the Annual Meeting so as to allow time for the brokerage firms to comply with the order,
as the Company anticipates that if the brokerage firms comply with the courts order, holders of a substantial number of the underreported shares of Common Stock will be able to participate in the Annual Meeting. On April 5, 2023, the
Company issued a press release in respect of the foregoing.
The close of business on March 6, 2023, remains as the Record Date for the determination
of the stockholders entitled to notice of and to vote at the Annual Meeting and at any adjournments or postponements thereof. In addition, no change has been made to the proposals to come before the Annual Meeting, which were presented in the proxy
statement that the Company mailed to stockholders as of the Record Date and filed with the Securities and Exchange Commission on March 8, 2023. Valid proxies that have already been submitted will continue to be valid for purposes of the
rescheduled Annual Meeting on Monday, April 17, 2023, and at any adjournments or postponements thereof. The Proxy Materials are available online at www.scilexholding.com.
By order of the Board of Directors,
/s/ Jaisim Shah
Jaisim Shah
President, Chief Executive Officer and
Director
Palo Alto, CA
April 5, 2023