Scilex subsidiary to sell ACEA Pharma for $1B in stock, gaining 82% stake in Phoenix Asia

Filed May 5, 2026 · Period ending May 4, 2026 · ~1 min read

Key Changes

• high

  ACEA Therapeutics (Scilex subsidiary) agreed to sell 100% of ACEA Pharma to Phoenix Asia Holdings for 100 million newly-issued shares valued at $1 billion ($10/share), giving ACEA Thera approximately 82% ownership of Phoenix Asia.

  Item 1.01 verify on EDGAR →
• high

  Transaction expected to close in Q2 2026, pending Hart-Scott-Rodino antitrust clearance, Nasdaq approval for potential change-of-control/reverse merger review, and standard closing conditions.

  Item 1.01 verify on EDGAR →
• high

  Deal represents complete divestiture of ACEA Pharma subsidiary in exchange for majority control of Phoenix Asia, fundamentally reshaping Scilex's corporate structure and asset base.

  Item 1.01 verify on EDGAR →