SRNE - Sorrento's Scilex repurchases $41.4M notes ahead of going public with SPAC Vickers Vantage

Sorrento's (NASDAQ:SRNE) subsidiary Scilex Holding on Friday has announced the pre-emptive repurchase of part of its senior secured notes. That allows the pain management company - Scilex - to repurchase $41.4M principal amount of notes on or before Sept. 30, 2022 and the holders of the notes will forgive and discharge $28M of the aggregate amount of notes. It comes ahead of the closing of company's merger transaction. In Mar. 2022, Scilex signed a business combination deal with SPAC Vickers Vantage (NASDAQ:VCKA) to go public at a pro forma equity valuation of ~$1.6B. The combined company is to be listed on Nasdaq under the ticker symbol “SCLX” after the closing of the transaction, expected in Q3 2022. "As we prepare to complete our previously announced merger with Vickers Vantage Corp. I and begin our registration and pre-commercialization plans of our recently successfully completed SP-102 (SEMDEXA) Phase 3 clinical trial program, this

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Sorrento's Scilex repurchases $41.4M notes ahead of going public with SPAC Vickers Vantage