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Filing Details

Accession Number:: 0001209191-16-132328
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2016-07-11 18:11:25
Reporting Period:: 2016-07-07

Filing Date:: 2016-07-11
Accepted Time:: 2016-07-11 18:11:25
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
850261	Sorrento Therapeutics Inc.	SRNE	Services-Commercial Physical & Biological Research (8731)	330344842

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1189020	Patrick Soon-Shiong	9922 Jefferson Boulevard Culver City CA 90232	No	No	No	Yes
1629186	Mp 13 Ventures, Llc	9922 Jefferson Boulevard Culver City CA 90232	No	No	No	Yes
1629222	Cambridge Equities, Lp	9922 Jefferson Boulevard Culver City CA 90232	No	No	No	Yes
1668335	Foundation Family Soon-Shiong Chan	9922 Jefferson Boulevard Culver City CA 90232	No	No	No	Yes

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2015-07-28	720,174	$0.00	0	No	4	G	Direct
Common Stock	Acquisiton	2015-07-28	720,174	$0.00	7,878,098	No	4	G	Indirect	Through The Chan Soon-Shiong Family Foundation
Common Stock	Disposition	2016-07-07	7,878,098	$0.00	0	No	4	S	Indirect	Through The Chan Soon-Shiong Family Foundation

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	G	Direct
No	4	G	Indirect	Through The Chan Soon-Shiong Family Foundation
No	4	S	Indirect	Through The Chan Soon-Shiong Family Foundation

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Warrant	Disposition	2016-07-08	500,000	$0.00	500,000	$5.80

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
1,224,138	2014-12-22	2017-12-22	No	4	J	Indirect

Footnotes

These 720,174 shares of common stock of Sorrento Therapeutics, Inc. (the "Company") were donated by Dr. Patrick Soon-Shiong to The Chan Soon-Shiong Family Foundation (the "Foundation") on July 28, 2015. Prior Form 4 filings erroneously reported these shares as being held by Dr. Soon-Shiong.
This number excludes shares of the Company sold by Dr. Soon-Shiong since July 28, 2015, which sales were reported on previous Form 4 filings.
This filing constitutes an exit filing for all reporting persons as they are no longer subject to Section 16 under the Securities Exchange Act of 1934.
This number excludes shares of the Company sold by the Foundation since July 28, 2015, which sales were reported on previous Form 4 filings.
Dr. Soon-Shiong is the Chairman of The Chan Soon-Shiong Family Foundation.
On July 7, 2016, pursuant to a privately negotiated transaction, (i) the Foundation sold 7,878,098 shares of common stock of the Company and (ii) Cambridge Equities, LP ("Cambridge Equities") surrendered to the Company and forfeited its right to acquire 500,000 shares of common stock of the Company under a warrant previously exercisable for 1,724,138 shares of common stock of the Company (the "Warrant"), in exchange for 5,618,326 shares of common stock, par value $0.0001 per share of NantKwest, Inc. owned by the Company and aggregate cash consideration of $15,639,071.95 (the "Transaction").
The exercise price of the Warrant is subject to customary adjustment provisions for stock splits, stock dividends, recapitalizations and the like.
As described in Footnote 5 above, as part of the Transaction, Cambridge Equities surrendered to the Company and forfeited its right to acquire 500,000 shares of common stock of the Company under the Warrant.
Dr. Soon-Shiong is the sole member of MP 13 Ventures, LLC, which is the general partner of Cambridge Equities, LP.