Cellect Biotechnology Ltd. Form 6-K Summary
Business Context and Reporting Period
This Form 6-K, filed on February 13, 2019, by Cellect Biotechnology Ltd. (a foreign private issuer), reports the closing of an underwritten public offering. The filing incorporates a press release dated February 13, 2019, announcing the completion of the transaction.
Key Financial Metrics and Capital Structure
The Company raised approximately $6.5 million through the offering, which closed on February 12, 2019. The filing does not provide specific revenue, profit, cash flow, margin, or debt figures for the reporting period.
- Units Sold: 1,889,000 Units at $1.50 per Unit.
- Pre-funded Units Sold: 2,444,800 Pre-funded Units at $1.49 per Pre-funded Unit.
- Over-allotment: Underwriters partially exercised their option to purchase an additional 350,000 ADSs and warrants to purchase 650,070 ADSs.
- Warrant Terms: Warrants included in the offering are immediately exercisable at $1.50 per ADS and expire five years from issuance. Pre-funded Warrants are immediately exercisable at $0.01 per share.
Material Changes
The primary material change is the significant increase in outstanding share count and capitalization resulting from the public offering. The Company entered into a lock-up agreement preventing the issuance of additional ADSs or ordinary shares for 90 days following the offering date, subject to certain exceptions.
Outlook, Risks, and Management Commentary
Management commentary is limited to the announcement of the offering's closing. The filing notes that the Pre-funded Units were sold to purchasers who would otherwise exceed beneficial ownership thresholds of 4.99% or 9.99%. The Company has engaged Computershare, Inc. as the warrant agent. No specific forward-looking guidance or risk factors beyond standard transactional disclosures are detailed in this specific filing text.
Investor Verification Checklist
- Verify the total net proceeds received after deducting underwriting discounts and commissions, as the gross amount is approximately $6.5 million.
- Confirm the exact number of ADSs issued upon the exercise of the partial over-allotment option.
- Review the Company's most recent Form 20-F for updated cash position and burn rate following this capital raise.
- Check for any subsequent filings regarding the full exercise of the remaining over-allotment option (up to 650,070 ADSs).