Aug. 29 at 5:31 PM
$SCLX
• SCLX approved option repricing from
$282.80 →
$16.80/share, covering up to 289,405 shares. Henry Ji and Stephen Ma are specifically named as eligible participants. SEC 8-K, 12/11/25.
• SCLX later reported the repricing created
$2.4M of incremental stock-based compensation expense.
SCLX 10-Q, 6/30/26.
• SCLX grants 50M options to its ET /SCLX employees, identifies Henry Ji: 21.875M options; Jaisim Shah: 21.875M; Stephen Ma: 2.5M, adjusted for the business combination. SEC S-1/A, 12/19. Those options become exercisable until ALL payments/obligations under the Scilex-Oramed Note are paid in full. Semnur reported the 50M-option pool had
$336.8M intrinsic value as of 3/31/26.
• if SCLX doesn’t satisfy the Oramed obligations by 9/30/26, the agreement provides for the remaining obligations to be satisfied with SCLX shares OR shares of a SCLX affiliate, on mutually agreed terms. Oramed also disclosed that the
$5M payment due 7/31/26 had not been received as of 8/10/26.
