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Cellect files for offering on behalf of selling shareholders

Certain selling shareholders of Cellect Biotechnology Ltd. plan to sell up to 5,461,200 ordinary shares, represented by 273,060 American depositary shares, from time to time.

The ADSs consist of 5,311,360 ordinary shares, represented by 265,568 ADSs, issuable upon the exercise of investor warrants and 149,840 ordinary shares, represented by 7,492 ADSs, issuable upon the exercise of private placement warrants.

The warrants in both cases were issued in a private placement in September.

Each ADS represents 20 ordinary shares. The company will not receive any proceeds from the sale of the ADSs by the selling shareholders and all net proceeds from the sale of the ordinary shares represented by ADSs will go to the selling shareholders.

If all of the investor warrants and placement agent warrants are exercised for cash in full, the company will receive about $3.3 million in proceeds. The company plans to use these net proceeds for research and development, general and administrative expenses, and for working capital purposes.