Sorrento raises $30 million, moves to NASDAQ

Sorrento Therapeutics Inc. (NASDAQ:SRNE) began trading on NASDAQ on Friday after raising $34.6 million through the sale of 4.8 million shares at $7.25 in a follow-on underwritten by Aegis Capital and CRT Capital. The share figure and total raised includes the sale of 622,500 shares sold in the overallotment. Sorrento proposed the follow-on earlier this month, when its share price was $8.90. The company, which ceased trading on the OTCQB, was up $0.76 (10%) to $8.62 on Friday. ...