Cellect Biotechnology Shares Increase Over 10% Pre-Market: Why It Happened

By Amit Chowdhry ● Aug 16, 2021
  • The shares of Cellect Biotechnology Ltd (NASDAQ: APOP) increased by over 10% pre-market. This is why it happened.

The shares of Cellect Biotechnology Ltd (NASDAQ: APOP) – a developer of innovative technology that enables the functional selection of stem cells – increased by over 10% pre-market. Investors appear to be responding positively to Cellect Biotechnology announcing that its registration statement filed on Form F-4 with the Securities and Exchange Commission (SEC) on August 10, 2021, was declared effective by the SEC on August 12, 2021 (the Form F-4). 

The Form F-4 was filed in connection with the previously announced strategic merger with Quoin Pharmaceuticals, a privately held U.S.-based company focused on rare and orphan diseases. And the company scheduled a Special General Meeting of Shareholders for September 19, 2021, and anticipates closing the transaction by September 30, 2021, subject to completion of previously disclosed closing conditions and approvals contained in the merger agreement.

There is additional information regarding the proposed strategic merger in the Form F-4.

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