On January 8, 2020 Cellect Biotechnology Ltd. (Nasdaq: APOP) ("Cellect" or the "Company"), a developer of innovative technology which enables the functional selection of stem cells, reported 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 (Press release, Cellect Biotechnology, JAN 8, 2020, View Source [SID1234552876]). 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.
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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 [email protected].