Sorrento Therapeutics Announces $25 Million Registered Direct Offering
Sorrento Therapeutics, Inc. (SRNE)
Last sorrento therapeutics, inc. earnings: 8/9 04:49 pm
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US:NASDAQ Investor Relations:
sorrentotherapeutics.com/investors
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Source: GlobeNewswire
SAN DIEGO, Oct. 07, 2019 (GLOBE NEWSWIRE) -- Sorrento Therapeutics, Inc. (Nasdaq: SRNE, “Sorrento”), a clinical stage, antibody-centric biopharmaceutical company developing new therapies to turn malignant cancers into manageable and possibly curable diseases, today announced that it has entered into definitive agreements with several healthcare-focused institutional investors for the purchase in a registered direct offering of 10,869,566 shares of its common stock and warrants to purchase up to 10,869,566 shares of its common stock, at a combined purchase price of $2.30 per share and related warrant. The offering is expected to close on or about October 9, 2019, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The warrants have an exercise price of $2.40 per share of common stock, will be exercisable immediately upon issuance and will expire seven years from the issuance date. The gross
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