Scilex Holding Secures Up to $100 Million Non-Recourse Loan from St. James Bank & Trust
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Scilex Holding Company announced that its subsidiary, SCLX Stock Acquisition JV LLC, has secured a Non-Recourse Loan and Securities Pledge Agreement with The St. James Bank & Trust Company Ltd. The agreement allows SCLX JV to borrow up to $100 million, with shares of Scilex common stock pledged as collateral. The loan has an eight-year maturity date, with a possible 12-month extension, and accrues interest at the 12-month Secured Overnight Financing Rate.
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