Cellect Biotechnology (APOP) IPO Opens Lower

Today's IPO for Cellect Biotechnology Ltd. (Nasdaq: APOP) opened for trading at $5.40 after pricing 1,292,308 American Depository Shares and warrants to purchase up to 969,231 ADSs. Each ADS, representing 20 ordinary shares of the Company, and each warrant to purchase ADSs are offered at a combined price to the public of $6.50. The warrants will have a per ADS exercise price of $7.50, are exercisable immediately, and will have a term of five years.

Rodman & Renshaw, a unit of H.C. Wainwright & Co., is acting as the sole book runner and Joseph Gunnar & Co., LLC is acting as co-manager for the offering.

Cellect Biotechnology Ltd. develops an innovative technology, which enables the functional selection of stem cells based on their sensitivity to apoptosis. This functional-based selection is a major breakthrough in the ability to isolate stem cells from mature cells, thereby improving a variety of stem cell based therapies.

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