Scilex Holding Company Announces That The U.S. Bankruptcy Court Has Extended The Lockup Period On Shares Of Scilex Dividend Stock Previously Distributed By Sorrento To Its Stockholders As A Dividend To January 31, 2025
Portfolio Pulse from Benzinga Newsdesk
The U.S. Bankruptcy Court has extended the lock-up period for Scilex Dividend Stock, distributed by Sorrento, to January 31, 2025. This prevents the sale or transfer of these shares until the new date.
September 26, 2024 | 1:15 pm
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Scilex Holding Company's shares, distributed as dividends by Sorrento, are under a lock-up period extended to January 31, 2025, by the U.S. Bankruptcy Court. This restricts any sale or transfer of these shares.
The lock-up extension means Scilex shares distributed as dividends cannot be sold or transferred, which may stabilize the stock price in the short term as supply is restricted.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Sorrento Therapeutics' distributed Scilex Dividend Stock is under a lock-up period extended to January 31, 2025, by the U.S. Bankruptcy Court. This impacts Sorrento's stockholders who received these shares.
The lock-up extension affects Sorrento's stockholders who received Scilex shares as dividends, potentially impacting their liquidity and investment strategy.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70