SORRENTO THERAPEUTICS, INC. Form 8-K (Sept. 28, 2021)

Summary

Current report on Form 8-K for an event dated September 28, 2021, filed by Sorrento Therapeutics, Inc. Under Item 1.02, the report states that on September 28, 2021 the Binding Term Sheet dated as of February 24, 2021 and amended on April 20, 2021 between Sorrento and ANP Technologies, Inc. was terminated, effective immediately. The term sheet had set out the terms by which Sorrento would, through a subsidiary, purchase all of the issued and outstanding equity of ANP. Henry Ji signed on September 30, 2021.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event
reported): September 28, 2021

SORRENTO THERAPEUTICS, INC.

(Exact Name of Registrant as Specified
in its Charter)

Delaware | 001-36150 | 33-0344842
(State or Other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.)

4955 Directors Place

San Diego , CA 92121

(Address of Principal Executive Offices)
(Zip Code)

Registrant’s telephone number,
including area code: ( 858 ) 203-4100

N/A

(Former Name, or Former Address, if Changed
Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities Registered pursuant to Section 12(b) of the Act:

Title of each class | Trading Symbol | Name of each exchange on which registered
Common Stock, $0.0001 par value | SRNE | The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 1.02. Termination of a Material Definitive
Agreement.

On September 28, 2021, that certain Binding Term
Sheet, dated as of February 24, 2021 and amended on April 20, 2021, by and among Sorrento Therapeutics, Inc. (“Sorrento”)
and ANP Technologies, Inc. (“ANP”) setting forth the terms and conditions by which Sorrento would, through a subsidiary, purchase
all of the issued and outstanding equity of ANP, was terminated, effective immediately.

SIGNATURES

Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SORRENTO THERAPEUTICS, INC.
Date: September 30, 2021 | By: | /s/ Henry Ji, Ph.D.
Name: | Henry Ji, Ph.D.
Title: | Chairman of the Board, President and Chief Executive Officer

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