$20,000,000 is the ceiling on a revolving line of credit Scilex Holding Company (Nasdaq: SCLX) established in favor of Vivasor, Inc. under a promissory note dated August 8, 2026. The facility carries a 5% per annum rate on outstanding balances and matures 120 months from that date, placing final repayment in August 2036. Scilex disclosed the arrangement in a Form 8-K, attaching the note as Exhibit 10.1.
Facility mechanics
The line is uncommitted. Vivasor may request drawdowns at any time before maturity, but Scilex bears no obligation to fund any single advance, with each draw approved at the company's sole discretion. The aggregate outstanding principal across all drawdowns may not exceed $20,000,000 at any one time. Repaid amounts may be reborrowed under the revolving framework.
Interest accrues from the funding date of each individual drawdown, not from the note's effective date. All principal and accrued, unpaid interest comes due in full on the 120-month maturity date. Vivasor holds the right to prepay, in whole or in part, at any time without penalty or premium.
Settlement currency
Scilex retains flexibility on how it funds any approved drawdown. Settlement may take the form of cash, freely tradable Scilex securities, shares of Datavault AI, Inc. currently held by Scilex or its subsidiaries, or any combination of those three. The option to deliver Datavault AI equity places a third company's shares inside the credit structure.
Related-party element
Dr. Henry Ji, Ph.D., serves as Scilex's Chief Executive Officer, President, and Chairperson. He also currently holds the title of Chief Executive Officer at Vivasor, the borrower. That dual role made the transaction a related-party matter. Scilex's Board of Directors and the Audit Committee of the Board both approved the note before it was signed.
Stephen Ma, Scilex's Chief Financial Officer, executed the 8-K filing on August 12, 2026. A facility that can settle in equity rather than cash, with a decade-long maturity, leaves the effective cost to Vivasor contingent on which settlement form Scilex elects at each drawdown.