Sorrento Therapeutics recently announced its intention to sell common stock options, as well as Series A, B, and C warrants, with the proceeds set to go toward funding several research areas, primarily its RTX, CD38 CAR-T and CEA CAR-T programs. The IPO will be managed by JMP Securities and H.C. Wainwright & Co. Sorrento states the stock’s underwriters will have the option to purchase an additional 15% of shares or warrants.
The pharmaceutical firm’s intention was initially filed with the Securities and Exchange Commission (SEC) on November 9, 2017, although it was subsequently amended and found effective the following month. The company will file a preliminary prospectus and accompanying information prior to the offering.