Sorrento Therapeutics Inc (SRNE)

[dia76ca]

New $45 million bridge loan until June 16, 2022. Will we soon learn more?
"On February 16, 2022, Sorrento Therapeutics, Inc. (the “Company”) entered into a Bridge Loan Agreement (“Loan Agreement”) between the Company, as borrower, and B. Riley Commercial Capital, LLC, as lender (the “Lender”), pursuant to which the Company borrowed $45.0 million from the Lender (the “Bridge Loan”). The proceeds from the Bridge Loan are expected to be used for working capital and general corporate purposes, which may include marketed product inventory build-up, capital expenditures, research and development expenditures, regulatory affairs expenditures, clinical trial expenditures, acquisitions of new technologies and investments and business combinations, and for the potential repayment, refinancing, redemption or repurchase of the Company’s outstanding indebtedness, including those certain senior secured notes due 2026 issued by Scilex Pharmaceuticals Inc., a subsidiary of the Company."