Scilex Holding Secures Up to $50 Million Loan from St. James Bank & Trust
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Scilex Holding Company has secured a Non-Recourse Loan and Securities Pledge Agreement with The St. James Bank & Trust Company Ltd., allowing it to borrow up to $50 million. The loan, with a 12-month SOFR plus 2% interest rate, matures in four years, extendable by 12 months. Scilex will pledge 39.2 million shares of Datavault AI Inc. as collateral. The agreement includes standard covenants and events of default.
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