**Vickers Vantage Corp. Announces Deferral and Consent under Tranche B Senior Secured Convertible Note; Enters into Agreements to Extend Obligations**

Vickers Vantage Corp. (OTCMKTS:VCKAU) recently disclosed a significant financial development regarding its Tranche B Senior Secured Convertible Note. The company, formerly known as Scilex Holding Company, detailed in an 8-K filing with the U.S. Securities and Exchange Commission dated January 2, 2025, that it entered into deferral and consent agreements with key stakeholders regarding the redemption of the Tranche B Notes.

According to the filing, Vickers Vantage Corp. had issued a Tranche B Senior Secured Convertible Note to various entities, including Oramed Pharmaceuticals Inc., Nomis Bay Ltd, BPY Limited, and 3i, LP. Per the terms of the Tranche B Notes, the company was obligated to redeem portions of the principal amount every fiscal quarter starting from January 2, 2025.

However, on January 2, 2025, the company reached agreements with the Tranche B Noteholders to defer the First Amortization Payment until January 31, 2025. In exchange for this deferral, Vickers Vantage Corp. agreed to provide 5,000,000 shares of common stock, held by SCLX Stock Acquisition JV, to the Tranche B Noteholders. These shares are to be distributed among the stakeholders as detailed in the agreements.

Furthermore, the company and the Tranche B Noteholders agreed to extend the obligation to make the First Amortization Payment until October 8, 2026. The filing mentioned that Vickers Vantage Corp. paid an amount of $1.11 million as a portion of the First Amortization Payment and related make-whole interest.

Additionally, as part of the agreements, the Tranche B Noteholders are set to collectively receive a 10-year, assignable, freely transferable 4% royalty on the worldwide Net Sales of Gloperba and Elyxyb, with exclusions. The stakeholders also have the opportunity to fund a portion of the cash purchase price for an Ex-US Product Right, entitling them to associated revenues proportional to their funding.

However, the execution of these agreements is subject to certain conditions, including securing an extension for the maturity obligations under a Senior Secured Promissory Note issued to Oramed on September 21, 2023. In particular, Vickers Vantage Corp. is working to extend the final installment payment, alongside accrued interest, currently due on March 21, 2025, until December 31, 2025.

The 8-K filing concluded by stating that the representations and warranties in the agreements were tailored for specific purposes and dates and should be reviewed in conjunction with the company’s periodic reports and other SEC filings for a comprehensive understanding.

The filing included copies of the agreements as Exhibits 10.1, 10.2, and 10.3, and a Cover Page Interactive Data File in iXBRL format under Exhibit 104.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Vickers Vantage Corp. I’s 8K filing here.

About Vickers Vantage Corp. I

As of November 10, 2022, Vickers Vantage Corp. I was acquired by Scilex Holding Company, in a reverse merger transaction. Vickers Vantage Corp. I does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization, or similar business combination with one or more businesses or entities.