Scilex Holding Company Announces Dividend Record Date

Introduction

PALO ALTO, Calif., Oct. 28, 2024 (GLOBE NEWSWIRE) — Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that it has set a record date of November 7, 2024 (the “Record Date”) for the dividend of Scilex preferred stock (the “Dividend”) to its stockholders and certain other securityholders of Scilex. Subject to the Board’s right to change the Record Date and conditioned upon the effectiveness of the filing of the Certificate of Designation with the Secretary of State of the State of Delaware, the payment date (the “Payment Date”) will be determined by subsequent resolutions of the Board, which will be within 60 days following the Record Date.

Expansion on the Topic

Scilex Holding Company’s decision to issue a dividend to its stockholders is a positive development for investors. By providing a return on investment through dividends, the company is rewarding its shareholders for their loyalty and support. This announcement also reflects the strong financial position of Scilex, as only profitable companies are able to pay dividends to their investors.

Furthermore, the focus of Scilex on non-opioid pain management products is in line with the growing trend towards alternative treatments for pain relief. With the opioid crisis continuing to be a major concern, the development and commercialization of non-opioid solutions are crucial in addressing the needs of patients suffering from acute and chronic pain.

How Will This Affect Me?

As a stockholder or securityholder of Scilex Holding Company, the upcoming dividend distribution will have a direct impact on your financial portfolio. The receipt of dividends can provide you with additional income, which can be reinvested or used to cover expenses. It is important to stay informed about the Payment Date and make the necessary arrangements to receive your dividend.

How Will This Affect the World?

The focus of Scilex Holding Company on developing non-opioid pain management products has the potential to have a significant impact on the world. By providing alternative solutions to opioids for pain relief, Scilex is contributing to the efforts to combat the opioid crisis and improve patient outcomes. The development and commercialization of these products can help reduce the dependency on opioids and provide safer and more effective options for pain management.

Conclusion

In conclusion, the announcement of the dividend record date by Scilex Holding Company is a positive development for investors and reflects the company’s commitment to rewarding its shareholders. The focus on non-opioid pain management products also highlights the importance of alternative treatments in addressing the opioid crisis. As we await further details on the Payment Date, it is clear that Scilex’s initiatives have the potential to have a meaningful impact on both individual investors and the broader world of pain management.