Sorrento Therapeutics Inc (SRNE)

[KCAC]

NK was overpriced at $25 and oversold by 1.3mil shares and raised $207 mil. A biotech IPO record, according to one of the many releases. Should mean good news for SRNE tomorrow as the NK shares are on the books for $21.5 mil cost basis and now will be on the books for market basis which should be close to $400mil in assets added tomorrow. I think the strong demand will mean NK will close maybe $60+

Here is good write up prior to knowing the price but released earlier today, it meantions SRNE as a 8% shareholder but that will now be closer to 7% with the added shares and I think the underwriters still have 1.05 mil shares to sell at IPO price:

http://www.equities.com/editors-desk/investing-strategies/ipo/nantkwest-nk