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Publicly traded company Scilex Holding will convert $200 million worth of Bitcoin through a stock swap.

2025.09.23 22:24:25

On September 23rd, the medical company Scilex Holding Company (Nasdaq: SCLX) announced today that it has reached a Securities Purchase Agreement ("SPA") with an institutional investor. According to this agreement, the institutional investor will exchange $200 million worth of Semnur Pharmaceuticals, Inc. (OTC: SMNR, SMNRW) common stock for $200 million worth of Bitcoin (BTC). Under the terms of the agreement, the institutional investor will purchase a total of 12,500,000 shares of Semnur common stock from Scilex at a price of $16.00 per share. This price may be adjusted in case of stock splits, dividends, capital reorganizations, restructurings, stock reclassifications, mergers, reverse stock splits, or similar events. The transaction is subject to customary closing conditions, including the accuracy of representations and warranties by both parties and the fulfillment of their respective obligations. It is expected to be completed around September 23, 2025.
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Address linked to LayerZero’s strategic partner transfers 8 million ZRO tokens to Coinbase Prime

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BitDeer director Sheldon Trainor-DeGirolamo will step down on October 15.

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U.S. federal court preliminarily rules Kalshi sports event contracts may be classified as swaps.

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