Sorrento Therapeutics Inc (SRNE)

[No-Quarter]

From page S6 -

Assumed public offering price per share $ 2.60

Pro forma net tangible book value per share as of September 30, 2017 $ 0.61

Increase in net tangible book value per share attributable to this offering $0.63

Pro forma as adjusted net tangible book value per share as of September 30, 2017, after giving effect to this offering $ 1.24

Dilution per share to new investors purchasing shares in this offering $ 1.36

$2.60 - 1.36 = $1.24.

Ouch!