**Vickers Vantage Corp. (OTCMKTS:VCKAU) Enters Material Definitive Agreement with Scilex Holding Company**

Vickers Vantage Corp. (OTCMKTS:VCKAU) recently announced its entry into a material definitive agreement with Scilex Holding Company. This agreement, detailed in a filing with the Securities and Exchange Commission on December 9, 2024, outlines important terms and conditions beneficial for both parties involved.

The agreement revolves around a Consent Letter, specifically the Tranche A Consent Letter, which involved Oramed Pharmaceuticals Inc. consenting to certain actions. The agreement includes provisions for the transfer of up to 60,068,585 shares of common stock of the Company held by SCLX Stock Acquisition JV LLC to an account at a designated broker. Additionally, it outlines engagements in the subsequent sale of these shares to various purchasers under the discretion of SCLX JV.

Furthermore, the agreement deliberates on the handling of principal installments concerning a Senior Secured Promissory Note issued by the Company to Oramed. In cases where scheduled payments are not met, SCLX JV is obligated to cover the shortfall from the Net Cash Proceeds of the Subject Transactions. A similar arrangement is specified for payments under a Tranche B Senior Secured Convertible Note issued to Oramed, Nomis Bay Ltd, BPY Limited, and 3i, LP.

Under the agreed terms, amortization payments are to be made in a specified order to meet financial obligations. A sales commission of 2.5% of the gross proceeds from the sale of each Relevant Scilex Share is also mandated as part of the agreement.

To ensure compliance and secure timely payment, SCLX JV granted Acquiom Agency Services LLC a security interest in the proceeds of the Relevant Scilex Shares. The agreement encompasses complex yet crucial financial arrangements designed to benefit all involved parties.

On the same day, the company entered into Tranche B Consent Letters with Nomis Bay Ltd, BPY Limited, Oramed Pharmaceuticals Inc., and 3i, LP, further solidifying the understanding between the Company and the Tranche B Noteholders on various aspects of the Subject Transactions.

The company also disclosed several exhibits related to the agreements, providing a comprehensive insight into the terms and conditions discussed within.

The completion of these agreements marks a significant step for both Vickers Vantage Corp. and Scilex Holding Company, setting a course for mutual benefit under carefully outlined financial arrangements.

For further details, the complete filing can be accessed on the Securities and Exchange Commission’s website and through the company’s investor relations portal.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vickers Vantage Corp. I’s 8K filing here.

Vickers Vantage Corp. I Company Profile

As of November 10, 2022, Vickers Vantage Corp. I was acquired by Scilex Holding Company, in a reverse merger transaction. Vickers Vantage Corp. I does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities.