SEC Form 4 · accession 0001144204-18-002932
Sorrento Therapeutics, Inc. · SRNE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Henry Ji
Officer — See Remarks · Director
Period of report
Jan 21, 2018
Accepted (ET)
Jan 22, 2018 · 7:28 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000850261
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Jan 21, 2018 | P$0 | 1,801,801 | — | A | 1,841,577 | D | |
| Common StockF3 | holding | — | — | — | 135,863 | I | See Footnote | |
| Common Stock | holding | — | — | — | 29,001 | I | By spouse | |
| Common StockF4 | holding | — | — | — | 2,153,162 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock Warrant (right to buy)F1,F2 | $8.50 | Jan 21, 2018 | P | 261,438 | A | Jun 7, 2016 | Jun 7, 2019 | Common Stock | 261,438 | 261,438 | D |
Explanation of responses
- F1On January 21, 2018, the Reporting Person entered into a Securities Purchase Agreement (the "SPA") with a third party whereby the Reporting Person agreed to purchase from the third party, and the third party agreed to sell to the Reporting Person, an aggregate of 1,801,801 shares of the Issuer's common stock (the "Shares") and a warrant to purchase an aggregate of 261,438 shares of the Issuer's common stock (the "Warrant"). The closing of the purchase and sale of the Shares and the Warrant as contemplated by the SPA has not yet occurred, but is expected to close no later than February 19, 2018. As the closing of the purchase and sale of the Shares and the Warrant is not subject to satisfaction of material conditions beyond the control of the parties, the Reporting Person is reporting the purchase of the Shares and the Warrant at this time.
- F2The aggregate purchase price for the Shares and the Warrant pursuant to the SPA is $11,531,526.40.
- F3Shares are held by an entity of which the Reporting Person and his spouse are the sole members and managing directors.
- F4Shares are held in a family trust of which the Reporting Person is a co-trustee with his wife.
Remarks
President, CEO and Chairman of the Board of Directors