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Scilex Holding Company, a Majority-Owned Subsidiary of Sorrento Therapeutics, Inc., to Become Publicly Traded Through a Merger With Vickers Vantage Corp. I - VCKA VCKAW
$VCKA - Scilex Holding Company and Vickers Vantage Corp I Enter into Letter of Intent for Proposed Business Combination
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Sold my $VCKA for a three-day 20% gain. Rinse and repeat bois.
[Scilex Holding Company, a majority-owned subsidiary of Sorrento Therapeutics, Inc., enters into a Non-Binding Term Sheet for a $5 Billion Committed Equity Financing Facility to be Effective in Connection with the Closing of the Merger with Vickers Vantage Corp I](https://www.globenewswire.com/news-release/2022/03/25/2410287/0/en/Scilex-Holding-Company-a-majority-owned-subsidiary-of-Sorrento-Therapeutics-Inc-enters-into-a-Non-Binding-Term-Sheet-for-a-5-Billion-Committed-Equity-Financing-Facility-to-be-Effec.html) VCKA VCKAW Scilex might sell $5 ***Billion*** worth of its stock in five years?
They announced a letter of intent [on December 6](https://www.globenewswire.com/news-release/2021/12/06/2346670/0/en/Scilex-Holding-Company-a-Sorrento-Therapeutics-Inc-Subsidiary-and-Vickers-Vantage-Corp-I-NASDAQ-VCKA-SPAC-Enter-into-Letter-of-Intent-for-Proposed-Business-Combination.html). Today they announced the definitive agreement. No 8-K or investor presentation yet, maybe tomorrow since the press release was after the regular market close.
An after market definitive agreement announcement from VCKA VCKAW. [Scilex Holding Company, a Majority-Owned Subsidiary of Sorrento Therapeutics, Inc., to Become Publicly Traded Through a Merger With Vickers Vantage Corp. I](https://www.globenewswire.com/news-release/2022/03/17/2405604/0/en/Scilex-Holding-Company-a-Majority-Owned-Subsidiary-of-Sorrento-Therapeutics-Inc-to-Become-Publicly-Traded-Through-a-Merger-With-Vickers-Vantage-Corp-I.html)
$VCKA looks like an especially crappy DA. A spinoff of a penny stock biotech company. Scams within scams, Lord help us. 🙏
the play here was to go long ERJ on the news. Up 15% today. $ERJ is $2.99B market cap and the Eve is valued being valued at $2.9B. Similar thing when VCKA was rumored to take a division of $SRNE public at like a $1.9B valuation and the market of SRNE was $2B. $SRNE was up 20% over next few days.
$VCKA - Scilex Holding Company and Vickers Vantage Corp I Enter into Letter of Intent for Proposed Business Combination
Vickers Vantage Corporation I trading halted, news pending $VCKA