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BEAVERTON, Ore. - Datavault AI Inc. (NASDAQ:DVLT) has closed the initial tranche of a previously announced $150 million Bitcoin investment from Scilex Holding Company (NASDAQ:SCLX), a $160 million market cap company that has seen its stock surge 225% over the past six months, according to a press release statement.
Under the agreement terms, Scilex received 15 million shares of Datavault common stock at the closing of the initial tranche. The company is expected to receive up to 278,914,094 shares at an effective purchase price of $0.5378 per share, subject to adjustments for stock splits and similar transactions. According to InvestingPro data, Scilex currently shows strong price momentum despite facing profitability challenges, with revenue of $44.24M in the last twelve months.
The remainder of the investment will be issued in a second tranche as a pre-funded warrant to purchase Datavault common stock. This second tranche requires approval by Datavault stockholders for the issuance of shares to Scilex exceeding 19.99% of Datavault’s pre-financing shares outstanding.
Datavault AI, headquartered in Beaverton, Oregon, specializes in AI-driven data visualization, valuation, and monetization. The company operates through Acoustic Science and Data Science divisions, offering cloud-based platform solutions across multiple industries.
Scilex Holding Company, based in Palo Alto, California, focuses on non-opioid pain management products for acute and chronic pain treatment. The company has three commercial products in its portfolio and three additional product candidates under development. InvestingPro analysis reveals the company maintains a 70% gross profit margin despite current market challenges. Subscribers can access 8 additional exclusive ProTips and comprehensive financial metrics to better understand Scilex’s market position.
The companies did not disclose specific timelines for the second tranche closing or details on how Datavault plans to utilize the Bitcoin investment.
In other recent news, Datavault AI Inc. has announced a significant $150 million strategic investment from Scilex Holding Company. This investment, which will fund the development of supercomputing infrastructure and independent data exchanges in the US, is set to occur in two tranches. The initial tranche of $8.07 million is expected to close on September 26, 2025, while the second tranche of $141.93 million is pending stockholder approval. The entire transaction will be conducted in Bitcoin at the spot exchange rate published by Coinbase.com.
Additionally, Scilex Holding Company has signed a Memorandum of Understanding with Biconomy.com to explore cryptocurrency trading services and treasury management strategies for its digital assets. In another development, Scilex plans to exchange $200 million worth of Semnur Pharmaceuticals shares for Bitcoin, with an institutional investor purchasing 12.5 million shares at $16 each. Furthermore, Scilex’s subsidiary, Semnur Pharmaceuticals, has secured $20 million through a private placement agreement to fund the second Phase 3 clinical trial of its non-opioid pain treatment, SP-102 (SEMDEXA). This funding will be used to advance clinical trials for the treatment of lumbosacral radicular pain and sciatica.
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