Sorrento Therapeutics Inc (SRNE)

[I-Glow]

For those who aren't familiar with Q stocks it rarely ends well for the Common shareholders.

Who Gets Paid First in a Chapter 11 Bankruptcy?

Secured Creditors. Secured creditors like banks are going to get paid first. ...

Unsecured Creditors. Your unsecured creditors are your bondholders, vendors, and suppliers. ...

Stockholders. Stockholders are usually the last ones to get paid during a bankruptcy. With Preferred shareholders above common shareholders.

And if any of the above common shareholders are impaired then the common shareholders are impaired.

This is going to get ugly.

Also, now there is another layer added as the DIP lender now gets paid first.

IG