Scilex Could Receive $200 Million in Bitcoin From Semnur Stock Sale, Partners With Biconomy on Crypto Strategy

• 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.

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.

What were the market and investor responses?

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.

Frequently Asked Questions

Is the Scilex transaction registered with the SEC?

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.

How much Bitcoin will Scilex receive for the $200M sale?

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.

Will this change Scilex’s treasury composition?

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.

Key Takeaways

• Strategic move: Scilex will exchange $200M in Semnur stock for Bitcoin in a private settlement.
• Partnership: Biconomy will advise on treasury management and crypto reserve strategy.
• Market impact: Scilex shares spiked intraday, reflecting investor appetite for corporate Bitcoin exposure.

Conclusion

Scilex’s decision to exchange $200 million of Semnur stock for Bitcoin and its partnership with Biconomy marks a notable example of corporate Bitcoin adoption in the pharmaceutical sector. The move changes Scilex’s treasury profile and highlights growing institutional interest in digital assets. Watch for closing confirmations and settlement details to assess long-term implications for corporate treasuries and market sentiment.

Published: September 23, 2025 — Updated: September 23, 2025. Author: COINOTAG editorial team. Reporting based on company filings and public statements; tweets and market data referenced as plain text sources.