Brief: Scilex Holding Company, To Become Publicly Traded Through A Merger With Vickers Vantage Corp. I

Sorrento Therapeutics

17/03/2022 19:43

March 17 (Reuters) - VICKERS VANTAGE CORP I  VCKA.O :
    * SCILEX HOLDING COMPANY, A MAJORITY-OWNED SUBSIDIARY OF
SORRENTO
THERAPEUTICS, INC., TO BECOME PUBLICLY TRADED THROUGH A MERGER
WITH VICKERS VANTAGE CORP. I
    * VICKERS VANTAGE CORP I - COMBINED COMPANY EXPECTED TO HAVE
A PRO
FORMA EQUITY VALUE POST-MONEY OF APPROXIMATELY $1.64 BILLION
    * VICKERS VANTAGE CORP I - COMBINED COMPANY'S COMMON STOCK
IS
EXPECTED TO BE LISTED ON NASDAQ UNDER NEW TICKER SYMBOL "SCLX"
    * VICKERS VANTAGE CORP I - UP TO $140 MILLION IN EXPECTED
GROSS
PROCEEDS BEFORE EXPENSES
    * VICKERS VANTAGE CORP I - IN CONNECTION WITH DEAL VCKA'S
SPONSORS
HAVE AGREED TO CANCEL 40% OF THEIR PRIVATE WARRANTS IF
REDEMPTIONS EXCEED 75%
    * VICKERS VANTAGE CORP I - SCILEX'S EXISTING EQUITY HOLDERS
WILL
ROLL 100% OF THEIR EQUITY INTO COMBINED COMPANY
    * VICKERS VANTAGE CORP I - ESTIMATED THAT CURRENT
STOCKHOLDERS OF
SCILEX WILL OWN APPROXIMATELY 88% OF OUTSTANDING SHARES OF
COMBINED COMPANY

Source text for Eikon:  ID:nGNX1MpPnf 
Further company coverage:  VCKA.O 

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