Sorrento Therapeutics, Inc. - Nov 10, 2022 Form 4 Insider Report for Vickers Vantage Corp. I (SCLX)

Role
10%+ Owner
Signature
/s/ Jaisim Shah, as Attorney-in-Fact
Stock symbol
SCLX
Transactions as of
Nov 10, 2022
Transactions value $
$0
Form type
4
Date filed
11/15/2022, 05:38 PM
Previous filing
Jul 23, 2021
Next filing
Nov 22, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction SCLX Warrant to Purchase Common Stock Other +2.8M 2.8M Nov 10, 2022 Common Stock 2.8M $11.50 Direct F1, F3
transaction SCLX Warrant to Purchase Common Stock Other +307K +10.99% 3.1M Nov 10, 2022 Common Stock 307K $11.50 Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the assignment and transfer of the warrant to the Reporting Person by Vickers Venture Fund VI Pte Ltd ("Sponsor One") pursuant the Warrant Transfer Agreement (as described below).
F2 Reflects the assignment and transfer of the warrant to the Reporting Person by Vickers Venture Fund VI (Plan) Ltd ("Sponsor Two" and together with Sponsor One, the "Sponsors") pursuant the Warrant Transfer Agreement (as described below).
F3 Pursuant to the warrant transfer agreement, dated as of October 12, 2022 (the "Warrant Transfer Agreement"), by and among the Reporting Person, the Sponsors, Vickers Vantage Corp. I ("Vickers") and Maxim Group LLC, Sponsor One transferred 2,796,704 warrant an aggregate of 3,104,000 warrants to the Reporting Person as over 90% of the public Vickers ordinary shares outstanding as of March 17, 2022 were redeemed in connection with the business combination as further described in Vickers' final prospectus and definitive proxy statement, dated October 28, 2022 (the "Proxy Statement/Prospectus") and filed with the Securities and Exchange Commission. The Warrant Transfer Agreement was entered into as consideration for the Reporting Person entering into a letter agreement with Scilex Holding Company ("Scilex") pursuant to which the Reporting Party would fund a loan to Scilex upon its request in the maximum aggregate amount of $10,000,000, as further described in the Proxy Statement/Prospectus.