TEL AVIV, Israel, Jan. 8, 2020 /PRNewswire/ -- Cellect
Biotechnology Ltd. (Nasdaq: APOP) ("Cellect" or the
"Company"), a developer of innovative technology which enables
the functional selection of stem cells, today
announced it has entered into a securities purchase agreement
with institutional investors for the purchase and sale of
1,000,000 American Depositary Shares ("ADSs"), each
representing 100 of the Company's ordinary shares, at an offering
price of $3.00 per ADS, pursuant to a
registered direct offering. The gross proceeds of the offering will
be approximately $3,000,000 before
deducting fees and other estimated offering expenses. The closing
of the registered direct offering is expected to take place on or
about January 10, 2020, subject to
the satisfaction of customary closing conditions.
A.G.P./Alliance Global Partners is acting as sole placement
agent for the offering.
This offering was made pursuant to an effective shelf
registration statement on Form F-3 (File No. 333-219614) previously
filed with the U.S. Securities and Exchange Commission (the "SEC").
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of
these securities in any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state
or jurisdiction. A prospectus supplement relating to the
shares of common stock will be filed by Cellect with the
SEC. When available, copies of the prospectus supplement,
together with the accompanying prospectus, can be obtained at the
SEC's website at www.sec.gov or from A.G.P./Alliance Global
Partners, 590 Madison Avenue, 36th Floor, New York, New York 10022 or by email at
prospectus@allianceg.com.
About Cellect Biotechnology
Cellect Biotechnology (APOP) has developed a breakthrough
technology, for the selection of stem cells from any given tissue,
which aims to improve a variety of stem cell-based therapies.
The Company's technology is expected to provide researchers,
clinical community and pharma companies with the tools to rapidly
isolate stem cells in quantity and quality allowing stem cell-based
treatments and procedures in a wide variety of applications in
regenerative medicine. The Company's current clinical trial focuses
on bone marrow transplantations in cancer treatment.
Forward-Looking Statements
This press release contains forward-looking statements about the
Company's expectations, beliefs and intentions. Forward-looking
statements can be identified by the use of forward-looking words
such as "believe", "expect", "intend", "plan", "may", "should",
"could", "might", "seek", "target", "will", "project", "forecast",
"continue" or "anticipate" or their negatives or variations of
these words or other comparable words or by the fact that these
statements do not relate strictly to historical matters. For
example, forward-looking statements are used in this press release
when we discuss our expectation regarding the closing of the
offering. These forward-looking statements and their implications
are based on the current expectations of the management of the
Company only, and are subject to a number of factors and
uncertainties that could cause actual results to differ materially
from those described in the forward-looking statements. In
addition, historical results or conclusions from scientific
research and clinical studies do not guarantee that future results
would suggest similar conclusions or that historical results
referred to herein would be interpreted similarly in light of
additional research or otherwise. The following factors, among
others, could cause actual results to differ materially from those
described in the forward-looking statements: changes in technology
and market requirements; we may encounter delays or obstacles in
launching and/or successfully completing our clinical trials; our
products may not be approved by regulatory agencies, our technology
may not be validated as we progress further and our methods may not
be accepted by the scientific community; we may be unable to retain
or attract key employees whose knowledge is essential to the
development of our products; unforeseen scientific difficulties may
develop with our process; our products may wind up being more
expensive than we anticipate; results in the laboratory may not
translate to equally good results in real clinical settings;
results of preclinical studies may not correlate with the results
of human clinical trials; our patents may not be sufficient; our
products may harm recipients; changes in legislation; inability to
timely develop and introduce new technologies, products and
applications, which could cause the actual results or performance
of the Company to differ materially from those contemplated in such
forward-looking statements. Any forward-looking statement in this
press release speaks only as of the date of this press release. The
Company undertakes no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by any
applicable securities laws. More detailed information about the
risks and uncertainties affecting the Company is contained under
the heading "Risk Factors" in Cellect Biotechnology Ltd.'s Annual
Report on Form 20-F for the fiscal year ended December 31,
2018 filed with the U.S. Securities and Exchange Commission,
or SEC, which is available on the SEC's website, http://www.sec.gov
and in the Company's period filings with the SEC.
Contact
Cellect Biotechnology Ltd.
Eyal Leibovitz, Chief Financial
Officer
www.cellect.co
+972-9-974-1444
Or
EVC Group LLC
Michael Polyviou
+(732)-933-2754
mpolyviou@evcgroup.com
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SOURCE Cellect Biotechnology Ltd.