Scilex Holding Company announced an agreement to make a $150 million Bitcoin (BTC) investment in Datavault AI Inc. This strategic investment is intended to provide growth capital for Datavault's supercomputing infrastructure and expand its independent data exchanges.
Scilex expects to receive up to 278,914,094 shares of Datavault common stock at an effective purchase price of $0.5378 per share. An initial tranche of 15,000,000 shares will be issued at closing, with the remainder in a second tranche as a pre-funded warrant, subject to Datavault stockholder approval.
Scilex intends to leverage its expertise in the biotech and pharmaceutical space to create a potential marketplace for Real-World Assets (RWA) tokenized on a blockchain. This move aligns with the projected growth of the global AI market to $1.8 trillion by 2030 and the biotech data monetization market to $30-50 billion by 2024.
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