Scilex has agreed to exchange $200 million of Semnur Pharmaceuticals stock for Bitcoin, settling the private transaction in Bitcoin and partnering with Biconomy to build crypto reserves and treasury strategy, signaling corporate Bitcoin adoption in the pharmaceutical sector.
Scilex will sell $200M of Semnur stock for Bitcoin via a private Securities Purchase Agreement.
Scilex partners with Biconomy to support treasury management, crypto reserve buildup, and long-term digital asset integration.
Shares jumped intraday into the low-to-mid $30s, peaking at $33.89 on heightened investor interest in corporate Bitcoin adoption.
Scilex Bitcoin agreement: Scilex to swap $200M Semnur stock for Bitcoin and partner with Biconomy — read the signed deal details and market reaction.
What is the Scilex Bitcoin agreement?
Scilex Holding Company signed a Securities Purchase Agreement to transfer 12,500,000 shares of Semnur Pharmaceuticals valued at $200 million in a private transaction settled entirely in Bitcoin. The deal is subject to customary closing conditions and expected to close on or about September 23, 2025.
How will the transaction be structured and settled?
Scilex will transfer 12,500,000 Semnur shares at $16.00 per share to an institutional investor with settlement in Bitcoin. The filing notes the sale is a private placement and not registered under the Securities Act, subject to standard representations, warranties, and closing conditions.
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JUST IN: Scilex Holding Company to sell $200 million worth of Semnur Pharmaceuticals stock for $200 million Bitcoin 🚀
Pharmaceutical companies buying Bitcoin 💊🧬 pic.twitter.com/s6dV42gFc0
— Bitcoin Archive (@BTC_Archive) September 23, 2025
Why did Scilex partner with Biconomy for crypto strategy?
Scilex announced a strategic collaboration with Biconomy to design and implement a corporate digital asset program. The partnership will focus on building cryptocurrency reserves, improving treasury management, and preparing scalable infrastructure for future crypto initiatives. Dmitry Sheludko, CEO of Biconomy, stated he is “very excited to work with Scilex” and emphasized Biconomy’s experience in crypto services.
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Following the announcement, Scilex shares rose intraday into the low-to-mid $30 range, peaking at $33.89 and settling near $31.35 in afternoon trading. Market commentary noted increased interest from retail traders and institutional participants attracted by the novelty of a biotech firm adopting Bitcoin for high-value settlement.
The filing indicates the offer and sale are private placements and have not been registered under the Securities Act. The transaction follows customary private transaction procedures and is subject to standard closing conditions and covenants.
The precise Bitcoin amount will depend on the BTC-to-USD exchange rate at settlement. The agreement values the stock transfer at $200 million, with settlement entirely in Bitcoin on or about September 23, 2025.
Yes. The company has explicitly signaled an intent to expand its treasury beyond cash and traditional securities by building cryptocurrency reserves and integrating digital assets into long-term treasury strategy with Biconomy’s advisory support.
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