Sorrento Therapeutics, Inc.: Nasdaq/NYSE listing notice — Sorrento Therapeutics receives Nasdaq delisting notice after Chapter 11 filing; stock to move to Pink Market on Feb 23

Sorrento Therapeutics, Inc.

Sorrento Therapeutics and subsidiary Scintilla Pharmaceuticals filed for Chapter 11 on Feb 13, 2023, in Southern District of Texas.
Nasdaq notified Sorrento of delisting due to Chapter 11 filing and public concerns; company will not appeal; trading suspended Feb 23.
Common stock expected to trade on Pink Open Market beginning Feb 23; no assurance of continued trading.
Company cautions trading prices may bear little relation to actual recovery for holders in Chapter 11 proceedings.

item 3.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Listing & Compliance Notices SEC 8-K Item 3.01 confidence 0.95

Sorrento Therapeutics, Inc. received a nasdaq delisting notice notice regarding other (rules 5101, 5110(b), IM-5101-1).

Exchange: nasdaq
Notice: delisting notice
Rules: 5101, 5110(b), IM-5101-1

Exact text from the filing

ase No. 23-90085) (the “Chapter 11 Cases”). On February 13, 2023, the Company received written notice (the “Delisting Notice”) from the staff of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, as a result of the Chapter 11 Filings and in accordance with Nasdaq Listing Rules 5101, 5110(b) and IM-5101-1, the staff of Nasdaq had determined that the Company’s common stock will be delisted from Nasdaq. In the Delisting Notice, the staff of Nasdaq referenced the Chapter 11 Filings and associated public concerns raised by them, concerns regarding the residual equity interest of the

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Source: SEC EDGAR

accession 0001104659-23-019893

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