Binding Term Sheet Supports Growth Plans

Scilex Holding Company (NASDAQ:SCLX) shares climbed 7% on Monday after the company announced it had signed a binding term sheet for a proposed $100 million strategic investment from Kazakhstan-based private investment firm iHolding Group LLP.

Under the proposed agreement, iHolding would acquire approximately 6.7 million newly issued Scilex common shares at $15.00 per share.

The company said the investment would provide additional capital to support its long-term expansion strategy across healthcare and medical technology.

Funding Targeted at Expansion and Acquisitions

If completed, the financing…