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Sorrento Therapeutics Announces Unsecured

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canada goose outlet in vancouver SAN DIEGO, March 27, 2018 (GLOBE NEWSWIRE) Sorrento Therapeutics, Inc. (SRNE) (“Sorrento”), announced today that it has entered into a securities purchase agreement to sell $120.5 million of unsecured canada goose convertible notes in a private placement to certain accredited investors. canada goose outlet in vancouver

canada goose victoria parka outlet The notes will be convertible into shares of Sorrento common stock at a price of $7.0125 per share and will accrue interest at canada goose coats a rate of 5% per year. Each purchaser ofthe convertible notes will also receive a warrant to purchase 50% of the number of shares of Sorrento common stock into which such purchaser’s note is initially convertible. The warrants will have an exercise price of $8.77 canada goose factory sale per share, or 125% Canada Goose Parka of the initial conversion price of the notes. canada goose victoria parka outlet

canada goose factory outlet toronto location The closing of the purchase and sale of the notes is expected to occur within 30 business days of March 26, 2018, subject to customary closing conditions. canada goose factory outlet toronto location

official canada goose outlet “We are extremely pleased with this financing. This shows how much we have progressed in the last few years, and our loyal investor base continues to support our long term efforts,” stated Dr. Henry Ji, Chairman and CEO for Sorrento. official canada goose outlet

canada goose outlet mississauga Subject to the closing of this financing, together with current cash on hand, Sorrento expects to have approximately $150 million in cash, allowing the company to continue executing for the next 18 24 months on its long term strategy to increase stockholder value. uk canada goose outlet persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any canada goose store sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws Canada Goose online of any such jurisdiction. canada goose outlet mississauga

canada goose outlet london At the closing of the financing, Sorrento and the purchasers of the notes will enter into a registration rights agreement pursuant to which, among other things, Sorrento will agree to prepare and file one or more registration statements with the Securities and Exchange Commission (the SEC) for the purpose of registering for resale the shares issuable upon conversion canada goose clearance sale of the notes and exercise of the warrants. Under the registration rights agreement, Sorrento will agree to file a registration statement with the SEC registering all canada goose clearance of shares issuable upon conversion of the notes and exercise of the warrants for resale by no later than the date 45 days after the closing canada goose coats on sale of the financing. Resiniferatoxin is completing a phase IB trial in terminal cheap canada goose uk cancer patients. FDA on February 28, 2018. canada goose outlet london

canada goose outlet store montreal This press release contains forward looking statements related to Sorrento Therapeutics, Inc., under the safe harbor cheap Canada Goose provisions of Section 21E of the Private Securities Litigation Reform Act of 1995 and subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward looking statements include statements including but not limited to statements about the terms, timing and size of the convertible canada goose uk shop note and warrant transaction set forth above, Sorrento’s use of the proceeds from the financing and its expectations regarding cash on hand and the use and timing thereof to execute Sorrento’s long buy canada goose jacket term strategy. Risks and uncertainties that could cause our actual results to differ materially and adversely from those expressed in our forward looking statements, include, but are not limited to: risks relating to the closing of the proposed financing; risks related to Sorrento’s and its subsidiaries’ technologies and prospects; canadian goose jacket risks related to convertible note and warrant transaction, including the closingand funding of the transaction; Sorrento’s ability to use the proceeds effectively and as described in canada goose uk black friday the press release; Sorrento’s ability Canada Goose Online to achieve any planned strategy; Sorrento’s ability to complete and close the transaction and any future financing transactions; and other risks that are described in Sorrento’s most recent periodic reports filed with the Securities and Canada Goose sale Exchange Commission, including Sorrento’s Annual Report on Form 10 K for the year ended December 31, 2017, including the risk factors set forth in those filings. Investors are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this release and we undertake no obligation to update any canada goose uk outlet forward looking statement in buy canada goose jacket cheap this press release except as required by law. canada goose outlet store montreal

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