Celle Corp. holds certain assets of Cryo-Cell not directly associated with its recurring revenue derived from privately banked cord blood specimens.
OLDSMAR, Fla.–Cryo-Cell International, Inc. (NYSE American LLC: CCEL), the world’s first private cord blood bank to separate and store stem cells in 1992, 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. [Read more…]
