Scilex Holding Company Acquires Significant Stake in Datavault AI Inc.

Scilex Holding Company (SHC) has filed a Schedule 13D to disclose its acquisition of a significant stake in Datavault AI Inc. SHC purchased 15 million shares of Datavault's common stock and a pre-funded warrant to purchase an additional 263.9 million shares for an aggregate purchase price of $150 million. The transaction was funded through the sale of shares in Semnur Pharmaceuticals, Inc., a subsidiary of SHC, to Biconomy PTE.LTD for Bitcoin. SHC now holds approximately 8.03% of Datavault's outstanding common stock. The filing also includes a voting agreement with certain Datavault stockholders to support the necessary approvals for the transaction, including an increase in the authorized shares of Datavault's common stock.