Sorrento Therapeutics, Inc. 4
4 · Scilex Holding Co · Filed Sep 25, 2023
Insider Transaction Report
Form 4
Sorrento Therapeutics, Inc.
10% Owner
Transactions
- Sale
Warrants to Purchase Common Stock
2023-09-21−4,490,617→ 0 totalExercise: $11.50From: 2022-11-10Exp: 2027-11-10→ Common Stock (4,490,617 underlying) - Sale
Common Stock
2023-09-21−60,068,585→ 1,917,210 total
Footnotes (1)
- [F1]Pursuant to that certain Stock Purchase Agreement, dated September 21, 2023, between the Reporting Person and Scilex Holding Company ("Scilex"), Scilex purchased the following securities from the Reporting Person for an aggregate purchase price of (a) $10 million in cash; plus (b) the assumption by Scilex of $100 million of debt under the Reporting Person's non-amortizing super-priority senior secured debtor-in-possession term loan facility; plus (c) the assumption by Scilex of certain obligations of the Reporting Person for legal fees and expenses in the amount of approximately $12.25 million; plus (d) a credit bid of approximately $23 million owed to Scilex under the Reporting Person's non-amortizing super-priority junior secured term loan facility: (i) 60,068,585 shares of Common Stock of Scilex; (ii) 29,057,097 shares of Series A Preferred Stock of Scilex; and (iii) warrants exercisable for 4,490,617 shares of Common Stock of Scilex.