Sorrento Therapeutics Inc (SRNE)

[Here Today]

This only has to do with the shares that were given to Shareholders of SRNEQ as a dividend. Reason they are doing this through the bankruptcy legal system is to put all the Brokerages and MM’s on notice that not only cannot these shares be traded but also Cannot be Lended to start or cover a Short position.

SCLX just filed to sell some shares in the open market and if all the shares that were given as a dividend were free floating, then the PPS would go lower and they would not be able to raise the amount of money that the company wants to with the least amount of share issuance.