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Scilex Holding Company Announces that the U.S. Bankruptcy Court has Extended the Lockup Period on Shares of Scilex Dividend Stock Previously Distributed by Sorrento to its Stockholders as a Dividend to April 14, 2025
US Bankruptcy Court for the Southern District of Texas issued an order to extend the lock-up period on the Scilex Dividend Stock, previously distributed by
About this update from Scilex Holding Company
[{"type":"text","content":"US Bankruptcy Court for the Southern District of Texas issued an order to extend the lock-up period on the Scilex Dividend Stock, previously distributed by Sorrento, to April 14, 2025.Accordingly, any shares of the Dividend Stock (including any such shares held by brokerage firms) may not be sold, transferred or otherwise disposed of.Scilex’s transfer agent, Continental Stock Transfer & Trust Company, has been notified of the lock-up extension to April 14, 2025. PALO ALTO, Calif., Jan. 31, 2025 (GLOBE NEWSWIRE) -- Scilex Holding Company (Nasdaq: SCLX, “Scilex” or “Company”), an innovative revenue-generating company focused on acquiring, developing and commercializing non-opioid pain management products for the treatment of acute and chronic pain and, following the formation of its proposed joint venture with IPMC Company, in neurodegenerative and cardiometabolic disease, today announced that the U.S. Bankruptcy Court for the Southern District of Texas (the “Court”) has extended the expiration of the restrictions on transfer of the shares of common stock of Scilex that were previously distributed by Sorrento Therapeutics, Inc. (OTC: SRNE, “Sorrento”), Scilex’s former controlling stockholder, to Sorrento’s stockholders as a dividend on January 19, 2023 (the “Dividend Stock”). On January 30, 2025, the Court approved a motion to extend the lock-up period on the Dividend Stock to April 14, 2025. Accordingly, any shares of the Dividend Stock (including any such shares held by brokerage firms) may not be sold, transferred or otherwise disposed of. The foregoing extension shall apply only to the Dividend Stock and does not apply to any other outstanding securities of Scilex. To review the Court order, please click the link here. For more information on Scilex Holding Company, refer to www.scilexholding.com. For more information on Semnur Pharmaceuticals, Inc., refer to www.semnurpharma.com. For more information on Scilex Holding Company Sustainability Report, refer to www.scilexholding.com/investors/sustainability. For more information on ZTlido® including Full Prescribing Information, refer to www.ztlido.com. For more information on ELYXYB®, including Full Prescribing Information, refer to www.elyxyb.com. For more information on Gloperba®, including Full Prescribing Information, refer to www.gloperba.com. https://www.facebook.com/scile...