A ZAG-S&W Team represented Cellect Biotechnology Ltd. (NASDAQ:APOP) (NASDAQ:APOPW) (TASE:CLBD), a developer of innovative technology that enables the functional selection of stem cells, in its initial public offering in the United States of 1,292,308 American Depository Shares (ADSs) and warrants to purchase up to 969,231 ADSs.
The gross proceeds to Cellect from this offering are $8.4 million. Cellect's ADSs and warrants began trading on the NASDAQ Capital Market on July 29, 2016, under the symbols "APOP" and "APOPW", respectively.
Cellect plans to use the net proceeds from the offering to fund its ongoing development plan, including its Phase I/II single arm, open label clinical trial and for working capital and other general corporate purposes.
The ZAG-S&W Team included Oded Har-Even, Howard Berkenblit, Shy Baranov and Ron Ben-Bassat.
Rodman & Renshaw, a unit of H.C. Wainwright & Co., acted as the sole book runner and Joseph Gunnar & Co., LLC acted as co-manager for the offering.
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