Vickers Vantage in an 8-K filing said its sponsor has sweetened the SPAC’s trust account with $1,035,000 in the form of a non-interest bearing loan. The deposit was made to extend the SPAC’s merger deadline by threre months until April 11.
Vickers Vantage signed a merger LOI last month with Scilex, which is engaged in the development and commercialization of non-opioid pain management products for treatment of acute and chronic pain. Scilex was not mentioned in the SPAC’s latest 8-K filing.
The SPAC is backed by Singapore-based Vickers Venture Partners.
If the SPAC completes an initial business combination, it may choose to repay the sponsor’s loan or convert some portion or all of the total loan amount into warrants at a price of 75 cents per warrant. Read more.
