Scilex to Swap $200 Million in Semnur Stock for Bitcoin
Scilex confirmed an official agreement with an institutional investor to sell 12.5 million Semnur Pharmaceuticals shares for Bitcoin, with the $200 million transaction expected to close by September 23, 2025.
BTC
Summary
Scilex Holding Company (NASDAQ: SCLX) announced in an official statement that it entered into a securities purchase agreement with an institutional investor to sell 12,500,000 shares of Semnur Pharmaceuticals common stock at $16.00 per share, totaling $200 million. The transaction will be settled in Bitcoin of equal value. The deal, subject to customary closing conditions, is expected to conclude around September 23, 2025.
Terms & Concepts
- Bitcoin: A decentralized digital currency operating without a central bank, secured through cryptographic technology and recorded on a blockchain.
- Common Stock: An equity security representing ownership in a company, entitling holders to voting rights and a share of profits through dividends.
- Institutional Investors: Organizations such as banks, hedge funds, or mutual funds that invest large sums of money in securities or other assets.