The US Bankruptcy Court approved the second modified joint plan of liquidation with related disclosure statement of Sorrento Therapeutics, Inc. on November 30, 2023. The debtor has filed its second modified joint plan of liquidation in the Court on November 16, 2023. As per the amended plan, administrative claims, fee claims, priority tax claims, statutory fees and other priority claims shall be paid in full in cash.

DIP facility claims were paid in full on august 9, 2023. Other secured claims shall receive payment e in the ordinary course of business or collateral securing such claim or reinstated. General unsecured claims with expected recovery of 56.9%.

shall receive its pro rata share of the liquidation trust recovery. Intercompany claims shall either be reinstated or cancelled and extinguished with no recovery on account of such claim. Scintilla equity interests shall remain effective and outstanding on the effective date for administrative convenience and shall be owned and held by the same applicable entity that held and/or owned such scintilla equity interests immediately prior to the effective date.

Sorrento equity interests will be canceled without further notice to, approval of, or action by any entity. each holder of a Sorrento equity interest shall receive, in full and final satisfaction, settlement, and release of, and in exchange for, such Sorrento equity interest, its pro rata share of the liquidation trust recovery. The Plan shall be funded from available cash and vesting of asset in Liquidating trust.