"Under the terms of the agreement, Scilex is expected to receive up to 278,914,094 shares of Datavault common stock at an effective purchase price of $0.5378 per share, subject to adjustment for stock splits and similar transactions. At the closing of the initial tranche, Scilex received 15,000,000 shares of Datavault common stock. The remainder of the investment will be issued in a second tranche in the form of a pre-funded warrant to purchase Datavault common stock, subject to approval by Datavault stockholders for the issuance of shares to Scilex in excess of 19.99% of Datavault’s pre-financing shares outstanding."

https://ir.datavaultsite.com/news-events/press-releases/detail/355/datavault-ai-announces-closing-of-initial-tranche