Calissio Resources Group Inc (CRGP)

[Cologne9672]

Sounds like they are just covering their bases.


I seen this on a recent press release:

The Offering will provide parties who hold short interests in restricted Scilex stock (the "Dividend Short Holders") the exclusive opportunity to purchase restricted Scilex stock for the sole purpose of covering their short positions and to the extent applicable, delivering the borrowed shares to the lenders thereof. The Dividend Short Holders can purchase the Scilex stock either in open market purchases or in private, secondary transactions with Sorrento at a price to be determined by Sorrento's Chief Restructuring Officer, in consultation with the Official Committee of Unsecured Creditors and the Official Committee of Sorrento Equity Securities Holders (the "Equity Committee") in Sorrento's chapter 11 case.

In addition, the Order directs record holders of short positions in Restricted Scilex Stock (the "Record Holders") to provide notice of the Offering to their customers who are Dividend Short Holders. These Record Holders will direct all inquiries from their customers about the Offering to certain representatives designated by Sorrento and the Equity Committee.

The Offering was negotiated by Sorrento and the Equity Committee in Sorrento's chapter 11 case. The Equity Committee was appointed in the case to act as a fiduciary for, and to represent the interests of, all Sorrento stockholders.

The Offering of the Restricted Scilex Stock by Sorrento would be made pursuant to a Registration Statement on Form S-1 (Registration No. 333-268603) previously filed and declared effective by the Securities and Exchange Commission ("SEC") and the related prospectus. These documents can be accessed for free through the SEC's website at www.sec.gov. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any shares of Restricted Scilex Stock.[/I]

https://www.prnewswire.com/news-releases/sorrento-therapeutics-incs-bankruptcy-court-approves-elective-offering-of-restricted-common-stock-of-scilex-holding-company-for-dividend-short-holders-301881990.html