Scilex Holding Co sold 12,500,000 shares (96.2% reduction) at $16.00 for $200,000,000 in 2 separate transactions.
A 10% owner executed two separate sales totaling 12,500,000 shares for $200,000,000, reducing its stake from 13,000,000 shares to 500,000 shares—a 96.2% reduction in holdings. The transactions occurred at $16.00 per share while current price is $19.00, and this follows a very recent listing (2 trading days), meaning the company is newly public and traditional liquidity/performance history is not yet established. The company generated Revenue $50,000,000 in the latest quarter with a Net income of $-385,122 and posted zero annual revenue growth (FY vs prior FY), indicating unprofitability over the most recent full fiscal year. The near-complete exit by a controlling shareholder during the immediate post-IPO window—when shares priced at $16.00 but now trade at $19.00—warrants close examination of the founder's confidence in the business trajectory and capital allocation priorities.