- Scilex Holding Company will exchange $200 million Semnur Pharmaceuticals stock with an institutional investor entirely in Bitcoin under a private transaction.
- The company engaged Biconomy.com to support cryptocurrency reserve buildup, treasury management, and long-term strategy for corporate digital asset integration.
- Scilex shares surged into the mid-$30s intraday after the announcement, reflecting strong investor interest in corporate Bitcoin adoption trends.
Scilex Holding Company announced that it has signed a Securities Purchase Agreement to exchange $200 million worth of Semnur Pharmaceuticals stock for Bitcoin, marking a notable entry of a pharmaceutical firm into the digital asset space.
Scilex Signs $200 Million Bitcoin Agreement
Scilex confirmed that it will transfer 12,500,000 shares of Semnur Pharmaceuticals at $16.00 per share to an institutional investor. The agreement places the total transaction value at $200 million, with settlement entirely in Bitcoin.
The company explained that the agreement is “subject to customary closing conditions, including the accuracy of representations and warranties as well as performance of covenants.” The closing is anticipated on or about September 23, 2025.
According to the filing, “The offer and sale of the shares are being made in transactions not involving a public offering and have not been registered under the Securities Act.” This makes the transaction in line with the regulatory requirements of the private placements.
Collaboration with Biconomy on Crypto Strategies
Scilex has also partnered with Biconomy.com to strengthen its approach toward digital asset adoption. The collaboration will focus on building cryptocurrency reserves, enhancing treasury management, and designing strategies to support Scilex’s future in the crypto sector.
Dmitry Sheludko, CEO of Biconomy.com, commented, “I am very excited to work with Scilex on their next endeavor in the crypto space. The experience, forward-thinking, and the services that we have in the crypto space will prove to be a valuable asset to Scilex in various cryptocurrency projects.”
Through this partnership, Scilex positions itself as a company ready to expand its treasury beyond traditional assets. The collaboration demonstrates the company’s interest in combining its pharmaceutical business with long-term exposure to digital assets.
Stock Market Response to the Announcement
Following the announcement, Scilex’s stock price experienced a surge in trading activity. Intraday movements saw the shares climb into the low-to-mid $30 range, peaking at $33.89 before settling near $31.35 by the afternoon session.
Market watchers noted the strong investor reaction to the news, with one report describing it as “heightened interest from both retail traders and institutions, many of whom were attracted by the novelty of a biotech firm aligning itself with the digital asset space.”
This market engagement places Scilex within a narrow cohort of public firms that are using Bitcoin for high-value financial transactions. This circumstance exemplifies the continued advancement of adoption of digital assets outside of traditional finance and technology sectors.
