Scilex completes $583.3 million investment in Datavault AI

Scilex Holding Company (NASDAQ: SCLX) announced it has closed the second tranche of its strategic investment in Datavault AI Inc. (NASDAQ: DVLT), completing a two-tranche equity financing arrangement.

The company purchased a pre-funded warrant exercisable for 263,914,094 shares of Datavault AI common stock using Bitcoin, based on the spot exchange rate at the time of signing. Scilex exercised the warrant in full following approval by Datavault AI stockholders at their November 24, 2025 annual meeting.

The shares issued upon warrant exercise have an approximate value of $583.3 million based on Datavault AI's closing price of $2.21 per share on the Nasdaq Capital Market on November 25, 2025.

According to the press release, both companies plan to increase collaboration on Real World Asset tokenization initiatives in 2026 and beyond.

Scilex focuses on acquiring, developing and commercializing non-opioid pain management products for treating acute and chronic pain, as well as neurodegenerative and cardiometabolic diseases. The company's commercial products include ZTlido, ELYXYB, and Gloperba.

Datavault AI operates a cloud-based platform providing AI-driven data experiences and asset monetization solutions. The company serves multiple industries including sports, entertainment, biotech, education, fintech, real estate, healthcare, and energy sectors.

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