The listed company Scilex plans to sell its shares in its controlling subsidiary to exchange for $200 million worth of Bitcoin

ChainCatcher news, innovative revenue-generating company Scilex Holding Company (NASDAQ: SCLX) announced that it has signed a Securities Purchase Agreement ("SPA") with institutional investors to exchange $200 million worth of common stock of its majority-owned subsidiary Semnur Pharmaceuticals, Inc. for $200 million worth of Bitcoin.

According to the agreement, institutional investors will purchase a total of 12,500,000 shares of Semnur common stock held by Scilex at a price of $16 per share, with the transaction expected to close around September 23, 2025.