Scilex Holding Company Enters Non-Binding Term Sheets For The Purchase Of All Of The Scilex Common Shares, Preferred Shares, And Warrants Currently Owned By Sorrento Therapeutics, Inc. And is Declared New Successful Bidder
Portfolio Pulse from Bill Haddad
Scilex Holding Company has entered non-binding term sheets for the purchase of all Scilex common shares, preferred shares, and warrants currently owned by Sorrento Therapeutics, Inc. As a result, Scilex Holding Company is declared the new successful bidder.
September 13, 2023 | 1:02 pm
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POSITIVE IMPACT
Scilex Holding Company is set to acquire all Scilex shares and warrants owned by Sorrento Therapeutics, which could potentially increase its market share and influence.
The acquisition of all Scilex shares and warrants owned by Sorrento Therapeutics by Scilex Holding Company could potentially increase its market share and influence. This could lead to a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Sorrento Therapeutics is set to sell all its Scilex shares and warrants to Scilex Holding Company. The impact on Sorrento's financials and stock price will depend on the terms of the deal.
Sorrento Therapeutics is selling all its Scilex shares and warrants to Scilex Holding Company. The impact on Sorrento's financials and stock price will depend on the terms of the deal, which are currently unknown. Therefore, the short-term impact on Sorrento's stock price is neutral until further details are revealed.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100