Datavault AI entered into a binding term sheet with Scilex to sell 837 BTC for $50 million, subject to a definitive agreement and customary conditions. Scilex will pay $30 million upfront, with the remaining $20 million in quarterly installments from Q4 2026 through December 31, 2028. Consideration may be in cash, Scilex common stock, publicly traded securities of its subsidiaries, or a combination thereof, at Scilex's discretion.
Agreement details:
- Agreement type: Binding term sheet for sale of 837 BTC
- Counterparty: Scilex
- Signed / Effective: Jun 24 2026 / same
- Duration / Termination: Through Dec 31 2028
- Reason: Monetize digital assets and enhance liquidity
Original SEC Filing:
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