Scilex Holding Company Announces that the Board of Directors of Datavault AI Inc. Has Approved the Distribution of a Dream Bowl 2026 Meme Coin to All Eligible Scilex and Datavault AI Stockholders of Record and Set a Record Date of November 25, 2025

Rhea-AI Summary

Scilex Holding Company (Nasdaq: SCLX) said Datavault AI (Nasdaq: DVLT) approved a distribution of a Dream Bowl 2026 Meme Coin to eligible Scilex and Datavault AI stockholders.

Key mechanics: the record date is November 25, 2025, the ex-dividend date is November 24, 2025, and holders of record will receive one Dream Bowl 2026 Meme Coin per share. Datavault AI plans to airdrop handcrafted digital coins into Data Vault wallets and will collect shareholder wallet info; distribution begins on or after December 8, 2025. Datavault may revoke or change the distribution or record date; the Payment Date will be set within 60 days after the record date.

The Dream Bowl event is scheduled for January 11, 2026 at AT&T Stadium and will include drone racing and e-sports championships.

Positive

• Record date set at November 25, 2025
• Entitlement: 1 Dream Bowl 2026 Meme Coin per share
• Distribution scheduled to begin on or after December 8, 2025

Negative

• Datavault AI may revoke or change the distribution or record date
• Short sellers failing to cover by Nov 24, 2025 face naked-short obligations to deliver meme coins

Insights

Corporate Actions & Digital Asset Specialist

Scilex and Datavault AI will airdrop a Dream Bowl 2026 Meme Coin to shareholders with key record and distribution dates specified.

Scilex shareholders of record as of Nov 25, 2025 (ex-dividend Nov 24, 2025) are entitled to one Dream Bowl 2026 Meme Coin per share, with coins airdropped to Data Vault® wallets on or after Dec 8, 2025. The distribution depends on Datavault AI Board actions; the Payment Date will be set within 60 days after the Record Date unless revoked or changed by that Board.

The company requires shareholders to provide wallet information and to register in the Datavault system to receive and trade the coins, and it states that lending stockholders will be entitled to receive coins from borrowed shares if shorts do not cover before the ex-dividend date. The announcement creates operational dependencies: timely collection of wallet data, correct coordination with the transfer agent, and the Datavault Board upholding the resolution.

Watch the following concrete items and time horizon: record date Nov 25, 2025, ex-dividend Nov 24, 2025, earliest distribution on or after Dec 8, 2025, and the Dream Bowl event on Jan 11, 2026. Confirm whether the coins carry monetary value or tradable listings before treating this as financial consideration, and monitor any Board notices that revoke or change the Record Date or Payment Date.

PALO ALTO, Calif., Nov. 11, 2025 (GLOBE NEWSWIRE) -- Scilex Holding Company (“Scilex” or the “Company”) (Nasdaq: SCLX), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease, today announced that the Board of Directors of Datavault AI Inc. (“Datavault AI”) (Nasdaq: DVLT) has approved the distribution of a Dream Bowl 2026 Meme Coin to all [eligible] Scilex and Datavault AI stockholders of record and set a record date of November 25, 2025 for determining stockholders entitled to receive the Dream Bowl 2026 Meme Coin from Datavault AI.

The ex-dividend date to acquire Scilex common stock is November 24, 2025. Holders of Scilex common as of the record date of November 25, 2025 will be entitled to receive one Dream Bowl 2026 Meme Coin for each share of Scilex common stock, as applicable, that they hold. Short sellers of Scilex common stock have an opportunity to return any borrowed shares of Scilex common stock to the lending stockholders on and before the ex-dividend date of November 24, 2025. Short sellers of Scilex common stock have not covered their short positions on the ex-dividend date will become naked short on distribution Meme Coins on the Record Date and will be obligated to deliver these Meme Coins to the lending Scilex Stockholders upon actual distribution from Datavault AI.

This digital collectible of Dream Bowl Draft Memo Coin is intended to provide for immutable recognition of ownership and utility with ticketing information and embed exclusive details on invited athletes, game highlights, accepted invitations and event insights, serving as a unique token of participation in this groundbreaking spectacle. Handcrafted digital coins will be airdropped directly to Data Vault^® wallets for Scilex shareholders prior to the payment date. Datavault AI will distribute (or coordinate with Scilex’s transfer agent to distribute) any necessary notices and forms to the Scilex stockholders to obtain each holder’s digital wallet information to allow such holders to receive their Dream Bowl 2026 Meme Coins on or after December 8, 2025. Scilex’s shareholders will receive detailed information about how to register and set up wallets in the Datavault system and instructions on how to trade these meme coins upon setting up the distribution date of these meme coins. Subject to the right of the Board of Directors of Datavault AI to revoke the distribution or to further change the Record Date, the payment date (the “Payment Date”) will be determined by subsequent resolutions of the Datavault Board of Directors, which will be within 60 days following the Record Date.

This marquee Dream Bowl event will culminate on January 11, 2026, at AT&T Stadium in Dallas, Texas, where elite athletes will compete for the Dream Bowl Championship. Building on this excitement, Datavault AI will also host the professional Drone Racing and E-Sports Championships, crowning the World Champion of Madden Football 2026 alongside two thrilling team e-sports titles. The first-of-its-kind collegiate bowl and e-sports event will feature reigning world championship teams from around the world in team e-sports and North American champion of Madden 2026 to face #1 contender for prize money and championship.

For more information on Scilex Holding Company, refer to www.scilexholding.com

For more information on Semnur Pharmaceuticals, Inc., refer to www.semnurpharma.com

For more information on ZTlido^® including Full Prescribing Information, refer to www.ztlido.com.

For more information on ELYXYB^®, including Full Prescribing Information, refer to www.elyxyb.com.

For more information on Gloperba^®, including Full Prescribing Information, refer to www.gloperba.com.

https://www.facebook.com/scilex.pharm

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info@scilexholding.com

About Scilex Holding Company

Scilex is an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and neurodegenerative and cardiometabolic disease. Scilex targets indications with high unmet needs and large market opportunities with non-opioid therapies for the treatment of patients with acute and chronic pain and is dedicated to advancing and improving patient outcomes. Scilex’s commercial products include: (i) ZTlido^® (lidocaine topical system) 1.8%, a prescription lidocaine topical product approved by the U.S. Food and Drug Administration (the “FDA”) for the relief of neuropathic pain associated with postherpetic neuralgia, which is a form of post-shingles nerve pain; (ii) ELYXYB^®, a potential first-line treatment and the only FDA-approved, ready-to-use oral solution for the acute treatment of migraine, with or without aura, in adults; and (iii) Gloperba^®, the first and only liquid oral version of the anti-gout medicine colchicine indicated for the prophylaxis of painful gout flares in adults.

In addition, Scilex has three product candidates: (i) SP-102 (10 mg, dexamethasone sodium phosphate viscous gel) (“SEMDEXA” or “SP-102”), which is owned by Semnur (a majority owned subsidiary of Scilex) and is a novel, viscous gel formulation of a widely used corticosteroid for epidural injections to treat lumbosacral radicular pain, or sciatica, for which Scilex has completed a Phase 3 study and was granted Fast Track status from the FDA in 2017; (ii) SP-103 (lidocaine topical system) 5.4%, (“SP-103”), a next-generation, triple-strength formulation of ZTlido, for the treatment of acute pain and for which Scilex has recently completed a Phase 2 trial in acute low back pain. SP-103 has been granted Fast Track status from the FDA in low back pain; and (iii) SP-104 (4.5 mg, low-dose naltrexone hydrochloride delayed-release capsules) (“SP-104”), a novel low-dose delayed-release naltrexone hydrochloride being developed for the treatment of fibromyalgia.

Scilex is headquartered in Palo Alto, California.

About Datavault AI Inc.

Datavault AI™ (Nasdaq: DVLT) is leading the way in AI driven data experiences, valuation and monetization of assets. The company’s cloud-based platform provides comprehensive solutions with a collaborative focus in its Acoustic Science and Data Science Divisions. Datavault AI's Acoustic Science Division features WiSA^®, ADIO^® and Sumerian^® patented technologies and industry-first foundational spatial and multichannel wireless HD sound transmission technologies with IP covering audio timing, synchronization and multi-channel interference cancellation. The Data Science Division leverages the power of high-performance computing to provide solutions for experiential data perception, valuation and secure monetization. Datavault AI's cloud-based platform provides comprehensive solutions serving multiple industries, including HPC software licensing for sports & entertainment, events & venues, biotech, education, fintech, real estate, healthcare, energy and more. The Information Data Exchange^® (IDE) enables Digital Twins, licensing of name, image and likeness (NIL) by securely attaching physical real-world objects to immutable metadata objects, fostering responsible AI with integrity. Datavault AI’s technology suite is completely customizable and offers AI and Machine Learning (ML) automation, third-party integration, detailed analytics and data, marketing automation and advertising monitoring.

The company is headquartered in Philadelphia, PA.

Learn more about Datavault AI at www.dvlt.ai

Forward-Looking Statements

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts and may be accompanied by words that convey projected future events or outcomes, such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” or variations of such words or by expressions of similar meaning. These forward-looking statements include, but are not limited to, statements regarding future events, Datavault AI’s potential distribution of the Dream Bowl 2026 Meme Coin and the timing thereof (including that the Board of Directors of Datavault AI may change the Record Date and, as a result, the Payment Date), the potential utility of the Dream Bowl 2026 Meme Coin, future opportunities for Scilex and its subsidiaries, the future business strategies, long-term objectives and commercialization plans of Scilex and its subsidiaries, the current and prospective product candidates, planned clinical trials and preclinical activities and potential product approvals, as well as the potential for market acceptance of any approved products and the related market opportunity of Scilex and its subsidiaries, statements regarding SP-102, if approved by the FDA, Scilex’s potential to attract new capital and avoid the effects of negative debt leverage and other statements that are not historical facts. These statements are based on management’s current expectations of and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Scilex. These statements are subject to a number of risks and uncertainties regarding Scilex’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, general economic, political and business conditions; the ability of Scilex and its subsidiaries to achieve the benefits of the transactions contemplated with Datavault, including future financial and operating results; risks related to the outcome of any legal proceedings that may be instituted against the parties regarding the Dream Bowl 2026 Meme Coin and the distribution thereof to Scilex stockholders; the risks associated with the right of the Board of Directors of Datavault AI to change the Record Date; the transactions contemplated with Datavault; the risk that the transactions contemplated with Datavault disrupts current plans and operations; the ability of Scilex and its subsidiaries to develop and successfully market products; the ability of Scilex and its subsidiaries to grow and manage growth profitably and retain its key employees; the risk that the potential product candidates that Scilex develops may not progress through clinical development or receive required regulatory approvals within expected timelines or at all; risks relating to uncertainty regarding the regulatory pathway for Scilex’s product candidates; the risk that Scilex’s product candidates may not be beneficial to patients or successfully commercialized; the risk that Scilex has overestimated the size of the target patient population, their willingness to try new therapies and the willingness of physicians to prescribe these therapies; risks that the prior results of the clinical trials may not be replicated; regulatory and intellectual property risks; the risk of failure to realize the anticipated benefits of the transactions contemplated with Datavault and other risks and uncertainties indicated from time to time and other risks set forth in Scilex’s filings with the SEC. There may be additional risks that Scilex presently does not know or that Scilex currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements provide Scilex’s expectations, plans or forecasts of future events and views as of the date of the communication. Scilex anticipates that subsequent events and developments will cause such assessments to change. However, while Scilex may elect to update these forward-looking statements at some point in the future, Scilex specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Scilex’s assessments as of any date subsequent to the date of this communication. Accordingly, investors are cautioned not to place undue reliance on these forward-looking statements.

Contacts:

Investors and Media
Scilex Holding Company
960 San Antonio Road
Palo Alto, CA 94303
Office: (650) 516-4310

Email: investorrelations@scilexholding.com

Website: www.scilexholding.com

SEMDEXA™ (SP-102) is a trademark owned by Semnur Pharmaceuticals, Inc., a majority-owned subsidiary of Scilex Holding Company. A proprietary name review by the FDA is planned.

ZTlido^® is a registered trademark owned by Scilex Pharmaceuticals Inc., a wholly-owned subsidiary of Scilex Holding Company.

Gloperba^® is the subject of an exclusive, transferable license to use the registered trademark by Scilex Holding Company.

ELYXYB^® is a registered trademark owned by Scilex Holding Company.

Scilex Bio™ is a trademark owned by Scilex Holding Company, Inc.

All other trademarks are the property of their respective owners.

© 2025 Scilex Holding Company All Rights Reserved.

FAQ

What does the Scilex (SCLX) record date of November 25, 2025 mean for shareholders?

Shareholders of record on November 25, 2025 will be entitled to receive one Dream Bowl 2026 Meme Coin per share.

What is the ex-dividend date for Scilex (SCLX) to be eligible for the Dream Bowl meme coin?

The ex-dividend date is November 24, 2025; shares bought on or after that date are not entitled to the coin.

How and when will Scilex (SCLX) shareholders receive the Dream Bowl 2026 Meme Coin?

Datavault AI will airdrop handcrafted meme coins to Data Vault wallets; distribution begins on or after December 8, 2025.

What happens to Scilex (SCLX) short sellers around the Dream Bowl distribution dates?

Short sellers who do not return borrowed shares by the Nov 24, 2025 ex-dividend date may become naked-short and must deliver meme coins to lenders upon distribution.

Could the Dream Bowl 2026 Meme Coin distribution for Scilex (SCLX) be canceled or changed?

Yes. The Datavault AI Board reserves the right to revoke or change the distribution or record date and will set the Payment Date within 60 days after the record date.

When and where is the Dream Bowl 2026 event tied to the meme coin distribution?

The Dream Bowl event is scheduled for January 11, 2026 at AT&T Stadium in Dallas, Texas.