{"id":732653,"date":"2023-02-17T15:50:32","date_gmt":"2023-02-17T20:50:32","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/"},"modified":"2023-02-17T15:50:32","modified_gmt":"2023-02-17T20:50:32","slug":"sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/","title":{"rendered":"Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d)"},"content":{"rendered":"
\n

SAN DIEGO, Feb. 17, 2023 (GLOBE NEWSWIRE) — Sorrento Therapeutics, Inc. (Nasdaq: SRNE, \u201cSorrento\u201d) today posted an update to its previously issued \u201cFrequently Asked Questions\u201d document under the \u201cInvestors\u201d section of its website at www.sorrentotherapeutics.com<\/u><\/a> regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company previously held by Sorrento (the \u201cDividend Stock\u201d).<\/p>\n

The update to the FAQs provides notice regarding the no lien code added on Scilex (Nasdaq: SCLX) common stock that was distributed as a dividend to Sorrento\u2019s stockholders and provides notice to brokerage firms, banks, dealers and similar organizations listed therein that a dividend confirmation had previously been distributed to such firms by Scilex\u2019s transfer agent (the \u201cDividend Confirmation\u201d). The update further requests that such firms contact Scilex\u2019s transfer agent if they have not received the confirmation. The update to the FAQs and related annex are included in this press release and can also be found at https:\/\/investors.sorrentotherapeutics.com\/<\/p>\n

\n NOTICE<\/strong>
\n OF<\/strong>
\n ADDITIONAL RESTRICTION CODE V050I BY CONTINENTAL STOCK TRANSFER & TRUST COMPANY<\/strong>\n <\/p>\n

\n Effective as of February 17, 2023, Continental Stock Transfer & Trust Company has added the \u201cNo Lien Code V505I\u201d<\/strong>
\n that<\/strong>
\n it<\/strong>
\n had<\/strong>
\n previously<\/strong>
\n imposed<\/strong>
\n on<\/strong>
\n the<\/strong>
\n Dividend<\/strong>
\n Stock.<\/strong>
\n Any<\/strong>
\n shares<\/strong>
\n of<\/strong>
\n Dividend<\/strong>
\n Stock held by your brokerage firm, bank, dealer or other similar organization for your benefit now bear only Scilex\u2019s CUSIP number, which is 80880W106. If you are entitled to receive Dividend Stock, please<\/strong>
\n contact<\/strong>
\n your<\/strong>
\n brokerage<\/strong>
\n firm,<\/strong>
\n bank,<\/strong>
\n or<\/strong>
\n other<\/strong>
\n similar<\/strong>
\n organization<\/strong>
\n immediately<\/strong>
\n to<\/strong>
\n confirm<\/strong>
\n that the CUSIP number appears on your brokerage statement with respect to your Dividend Stock.<\/strong>\n <\/p>\n

\n RESTRICTION CODE V050I<\/strong>\n <\/p>\n

\n THE SECURITIES ARE NOT SUBJECT TO ANY RIGHT, CHARGE, SECURITY INTEREST, LIEN OR CLAIM OF ANY KIND IN FAVOR OF CONTINENTAL STOCK TRANSFER & TRUST COMPANY (“CONTINENTAL”) OR ANY PERSON CLAIMING THROUGH CONTINENTAL AND IF, NOTWITHSTANDING THE FOREGOING, THE SECURITIES BECOME SUBJECT TO ANY SUCH RIGHT, CHARGE, SECURITY INTEREST, LIEN, OR CLAIM OF ANY KIND, YOU WILL BE PROMPTLY NOTIFIED.<\/strong>\n <\/p>\n

\n NOTICE<\/strong>
\n TO<\/strong>
\n BROKERAGE<\/strong>
\n FIRMS,<\/strong>
\n BANKS,<\/strong>
\n DEALERS<\/strong>
\n AND<\/strong>
\n OTHER<\/strong>
\n SIMILAR <\/strong>
\n ORGANIZATIONS<\/strong>\n <\/p>\n

\n If your firm, bank or similar organization has not received<\/strong>
\n the Dividend<\/strong>
\n Confirmation<\/strong>
\n that<\/strong>
\n was<\/strong>
\n mailed and emailed to your<\/strong>
\n firm, bank or similar organization, please contact Scilex\u2019s transfer agent immediately to obtain a copy of the Dividend Confirmation. <\/strong>\n <\/p>\n

Continental Stock Transfer & Trust Company
Telephone Number: 800-509-5586
Email Address: cstmail@continentalstock.com<\/a><\/p>\n

\n Several<\/strong>
\n major<\/strong>
\n brokers<\/strong>
\n have<\/strong>
\n confirmed<\/strong>
\n to<\/strong>
\n Sorrento<\/strong>
\n and<\/strong>
\n Scilex<\/strong>
\n that<\/strong>
\n they<\/strong>
\n are<\/strong>
\n adding<\/strong>
\n the<\/strong>
\n Scilex<\/strong>
\n share positions to the individual brokerage accounts of Sorrento stockholders receiving the Dividend <\/strong>
\n Stock.<\/strong>\n <\/p>\n

\n SUPPLEMENTAL<\/strong>
\n QUESTION<\/strong>
\n AND<\/strong>
\n ANSWER<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n
\n Q:<\/strong>\n <\/td>\n\n What is the purpose of No-Lien Restriction Code V050I on the CST confirmation statement?<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
A:<\/td>\nThe No-Lien Code on the CST confirmation statement will help ensure that brokerage accounts and statements have the correct ticker symbol (\u201cSCLX\u201d) for the Scilex stock issued as a dividend to Sorrento\u2019s stockholders, as well as the latest trading price of Scilex stock reflected in brokerage accounts. Scilex will review the stockholder list on March 6, 2023 and Sorrento can determine at that time if the lock-up of the Scilex dividend shares will be extended for an additional 90 days beyond May 11, 2023.<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Q:<\/strong>\n <\/td>\n\n Will Sorrento or Scilex management take any actions with respect to the substantial \u201cnaked short\u201d positions of Scilex common stock?<\/strong>\n <\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
A:<\/td>\nScilex and Sorrento are in the process of contacting and coordinating with regulatory agencies to help enforce compliance with applicable laws, rules and regulations governing market participants, which strictly prohibit intentional or abusive \u201cnaked shorting\u201d of publicly traded securities.<\/td>\n<\/tr>\n<\/table>\n

\n For Sorrento Therapeutics, Inc.<\/strong>
\n
Media Contact
The Levinson Group
212-202-2754
Email:\u00a0\u00a0sorrento@tlgcommunications.com<\/a>
Website:\u00a0\u00a0www.sorrentotherapeutics.com<\/a><\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

SAN DIEGO, Feb. 17, 2023 (GLOBE NEWSWIRE) — Sorrento Therapeutics, Inc. (Nasdaq: SRNE, \u201cSorrento\u201d) today posted an update to its previously issued \u201cFrequently Asked Questions\u201d document under the \u201cInvestors\u201d section of its website at www.sorrentotherapeutics.com regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company previously held by Sorrento (the \u201cDividend Stock\u201d). The update to the FAQs provides notice regarding the no lien code added on Scilex (Nasdaq: SCLX) common stock that was distributed as a dividend to Sorrento\u2019s stockholders and provides notice to brokerage firms, banks, dealers and similar organizations listed therein that a dividend confirmation had previously been distributed to such firms by Scilex\u2019s transfer agent (the \u201cDividend Confirmation\u201d). The update further … <\/p>\n

Continue reading “Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-732653","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nSorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"SAN DIEGO, Feb. 17, 2023 (GLOBE NEWSWIRE) — Sorrento Therapeutics, Inc. (Nasdaq: SRNE, \u201cSorrento\u201d) today posted an update to its previously issued \u201cFrequently Asked Questions\u201d document under the \u201cInvestors\u201d section of its website at www.sorrentotherapeutics.com regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company previously held by Sorrento (the \u201cDividend Stock\u201d). The update to the FAQs provides notice regarding the no lien code added on Scilex (Nasdaq: SCLX) common stock that was distributed as a dividend to Sorrento\u2019s stockholders and provides notice to brokerage firms, banks, dealers and similar organizations listed therein that a dividend confirmation had previously been distributed to such firms by Scilex\u2019s transfer agent (the \u201cDividend Confirmation\u201d). The update further … Continue reading "Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d)"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-17T20:50:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MjA2NCM1NDE3MjEyIzIwNDk4NDQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d)\",\"datePublished\":\"2023-02-17T20:50:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\\\/\"},\"wordCount\":626,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODc1MjA2NCM1NDE3MjEyIzIwNDk4NDQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\\\/\",\"name\":\"Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d) - 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(Nasdaq: SRNE, \u201cSorrento\u201d) today posted an update to its previously issued \u201cFrequently Asked Questions\u201d document under the \u201cInvestors\u201d section of its website at www.sorrentotherapeutics.com regarding its recent dividend to Sorrento stockholders of shares of common stock of Scilex Holding Company previously held by Sorrento (the \u201cDividend Stock\u201d). The update to the FAQs provides notice regarding the no lien code added on Scilex (Nasdaq: SCLX) common stock that was distributed as a dividend to Sorrento\u2019s stockholders and provides notice to brokerage firms, banks, dealers and similar organizations listed therein that a dividend confirmation had previously been distributed to such firms by Scilex\u2019s transfer agent (the \u201cDividend Confirmation\u201d). The update further … Continue reading \"Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/","og_site_name":"Market Newsdesk","article_published_time":"2023-02-17T20:50:32+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MjA2NCM1NDE3MjEyIzIwNDk4NDQ=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d)","datePublished":"2023-02-17T20:50:32+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/"},"wordCount":626,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODc1MjA2NCM1NDE3MjEyIzIwNDk4NDQ=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/sorrento-issues-update-to-its-previously-issued-faq-regarding-the-dividend-of-scilex-holding-company-common-stock-nasdaq-sclx-scilex\/","name":"Sorrento Issues Update to its Previously Issued \u201cFAQ\u201d Regarding the Dividend of Scilex Holding Company Common Stock (Nasdaq: SCLX, \u201cScilex\u201d) - 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