Cryo-Cell Announces Plans to Explore Strategic Alternatives and Spin-off Celle Corp. to Maximize Shareholder Value
Cryo-Cell International, Inc. (CCEL)
NASDAQ:AMEX Investor Relations:
cryo-cell.com/investor-relations
Company Research
Source: Business Wire
OLDSMAR, Fla.--(BUSINESS WIRE)--Cryo-Cell International, Inc. (NYSE American LLC: CCEL) (the “Company” or “Cryo-Cell”), the world’s first private cord blood bank to separate and store stem cells in 1992, today announced that its Board of Directors has authorized the spin-off of its newly formed subsidiary, Celle Corp., to the Cryo-Cell shareholders and to explore all strategic alternatives for Cryo-Cell (post spin-off) to maximize shareholder value, including, but not limited to, equity and/or debt financings and/or the possible sale or merger of the company. There is no assurance that such a transaction will take place.Celle Corp. was created to hold certain assets of Cryo-Cell not directly associated with the recurring revenue stream from privately banked, umbilical cord blood specimens. The Patent and Technology License Agreement with Duke University has been transferred to Celle Corp. and other assets and liabilities are expected to be transferred in the near future. The spin-
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News
- Cord Blood Banking Leader Cryo-Cell Reports Fiscal First Quarter 2024 Financial ResultsBusiness Wire
- Cryo-Cell plans to explore strategic alternatives and spin-off its Celle Corp unit [Seeking Alpha]Seeking Alpha
- Cryo-Cell Reports Financial Results for Fiscal Year Ended November 30, 2023Business Wire
CCEL
Sec Filings
- 4/15/24 - Form 10-Q
- 3/26/24 - Form 8-K
- 2/28/24 - Form 10-K
- CCEL's page on the SEC website