Reported Earlier, Scilex Announces Move To Extend Lockup Period For Sorrento-Distributed Dividend Shares Until September 2024

Author: Benzinga Newsdesk | March 04, 2024 02:55am

- Scilex Holding Company (NASDAQ:SCLX, ", Scilex", ))))), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain, today announced that the Official Committee of Unsecured Creditors (the "Creditors' Committee") of Sorrento Therapeutics, Inc. (OTC:SRNEQ, ", Sorrento", ))))) has filed a motion (the "Motion") with the U.S. Bankruptcy Court for the Southern District of Texas (the "Court") seeking to further extend the restrictions on transfer on the shares of common stock of Scilex that were previously distributed by Sorrento to its stockholders as a dividend on January 19, 2023 (the "Dividend Stock") from March 31, 2024 to September 30, 2024. Further notice related to the U.S. Bankruptcy Court's decision on the Motion will be communicated once an order has been grante

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