Brief: Sorrento therapeutics announces agreements for up to $150 mln private placement

Yuhan

05/04/2016 01:22

April 4 (Reuters) - Sorrento Therapeutics Inc:  SRNE.O  
    * Sorrento announces definitive agreements for up to $150 
million private placement 
    * Entered agreements with institutional investors and yuhan 
corp of south korea 
    * Investors will invest up to about $150 million in separate 
private placements in newly issued common stock at $5.55 per 
share 
    * Net proceeds from financing will primarily be used to 
support development of sorrento's product pipeline 
 
Source text for Eikon:  ID:nPn5Lw12Ra  
Further company coverage:  SRNE.O  
 
 (Reporting by Vishal Sridhar) 
 ((Vishal.Sridhar@thomsonreuters.com;))