Datavault AI Executes $120M Cash Contribution, Revenue Participation Agreement With Scilex

Datavault AI Inc. (NASDAQ:DVLT) ("Datavault AI" or the "Company"), a provider of data monetization, credentialing, digital engagement, and real-world asset ("RWA") tokenization technologies, today announced it has executed a binding term sheet for a cash contribution and revenue participation agreement with Scilex Holding Company (NASDAQ:SCLX) ("Scilex").

The term sheet contemplates that Scilex will make an upfront cash contribution to Datavault AI in the amount of $120,000,000, and, in consideration therefor, Datavault AI will pay to Scilex an amount equal to: (i) 30% of all gross revenues recognized by Datavault AI attributable exclusively to the quantum-ready, zero trust edge network ("network revenues"), payable until the aggregate amount of such payments received by Scilex equals $250,000,000 (the "Interim Cap"); (ii) once the Interim Cap is reached, 15% of Network Revenues, payable until the aggregate amount of such payments received by Scilex (when combined with amounts applied to the Interim Cap) equals $1,200,000,000 (the "Additional Cap"); and (iii) once the Additional Cap is reached, 5% of Network Revenues.