ARTICLE | Financial News

Sorrento closes $150M private placements

June 9, 2016 2:43 AM UTC

Oncology company Sorrento Therapeutics Inc. (NASDAQ:SRNE) closed a set of private placements in which it raised $150 million.

A group including Ally Bridge Group, Beijing Shijilongxin Investment Co. Ltd. and Frejoy Investment Management Co. Ltd. purchased 25.2 million shares at $5.55, plus three-year warrants to purchase another 5 million shares at $8.50, for a total of $140 million. ...