Scilex Holding entered into a binding term sheet with Datavault to purchase 837 BTC for $50 million, subject to a definitive agreement and closing conditions. The company plans to pay $30 million upfront, with $20 million in quarterly installments through December 31, 2028, using cash, common stock, subsidiary securities, or a combination. The BTC is currently held in a Biconomy digital wallet. There is no assurance the transaction will close as described.
Agreement details:
- Agreement type: Binding term sheet for purchase of Bitcoin
- Counterparty: Datavault AI
- Signed / Effective: Jun 24 2026 / same
- Duration / Termination: Through Dec 31 2028
- Reason: Acquire 837 BTC from Datavault
Original SEC Filing:
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