On September 29, 2022 Scilex Holding Company ("Scilex"), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, reported that it pre-emptively paid off and eliminated all of its remaining Notes in an aggregate principal amount of $67.7 million for a cash payment of approximately $39.7 million (Press release, Sorrento Therapeutics, SEP 29, 2022, View Source [SID1234621544]). Scilex is a nearly 100% (or over 99.9%) majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq: SRNE, "Sorrento").

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Scilex Holding Company and Vickers Vantage Corp. I (Nasdaq: VCKA) ("Vickers"), a special purpose acquisition company sponsored by Vickers Venture Fund VI Pte Ltd and Vickers Venture Fund VI (Plan) Pte Ltd, have entered into a definitive business combination agreement ("BCA") on March 17, 2022. Upon the closing of the transaction, the combined company (the "Combined Company") will be renamed Scilex Holding Company, and its common stock and warrants to purchase common stock are expected to be listed on Nasdaq under the ticker symbol "SCLX" and "SCLXW", respectively. The boards of directors of each of Vickers, Scilex and Sorrento have unanimously approved the proposed transaction. The closing of the transaction, which is expected to occur in the fourth quarter of 2022, is subject to the approval of Vickers’s and Scilex’s shareholders and the satisfaction or waiver of certain other customary closing conditions.