[Scilex Plans to Exchange $200 Million in Bitcoin for Subsidiary Shares] Scilex Holding Company (NASDAQ: SCLX) announced that it has signed a Securities Purchase Agreement (SPA) with institutional investors, planning to exchange $200 million worth of Bitcoin for common shares of its subsidiary, Semnur Pharmaceuticals, Inc. According to the agreement, investors will purchase 12,500,000 shares of Semnur common stock held by Scilex at a price of $16 per share, for a total transaction value of $200 million. The transaction is expected to close around September 23, 2025.