CCEL Cryo Cell International Inc

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2024

 

 

CRYO-CELL INTERNATIONAL, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware			001-40767	22-3023093
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
700 Brooker Creek Blvd.
Oldsmar, Florida				34677
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 813 749-2100

 

,

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.01 par value		CCEL		NYSE American LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

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Item 8.01 Other Events.

On October 29, 2024 the Board of Directors of Cryo-Cell International, Inc. ("Cryo-Cell") declared a cash dividend of $0.25 per share of common stock to be paid to its shareholders of record as of the close of business on November 15, 2024 and is expected to be paid on November 29, 2024.

 

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Item 9.01 Financial Statements and Exhibits.

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	Financial Statements of Businesses Acquired.	Not Applicable.
	Pro Forma Financial Information	Not Applicable.
	Shell Company Transactions	Not Applicable.
	Exhibits.
	Exhibit No.	Description
	99.1	Press Release, dated October 30, 2024.
	104	Cover Page Interactive Data File (the cover page iXBRL tags are embedded within the Inline XBRL document)

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			Cryo-Cell International, Inc.
Date:	October 30, 2024	By:	/s/ David Portnoy
			David Portnoy, Chairman and Co-CEO

 

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Exhibit 99.1

 

For Immediate Release Contact:

Irene Smith

813-749-2102

Ismith@cryo-cell.com

 

 

CORD BLOOD BANKING LEADER CRYO-CELL declares INITIATION OF regular quaRterly CASH DIVIDEND

 

OLDSMAR, FL – October 30, 2024 – Cryo-Cell International, Inc. (NYSE American LLC Symbol: CCEL) (“Cryo-Cell”), the world’s first private cord blood bank to separate and store stem cells in 1992, announced today that its Board of Directors has approved the payment of a regular quarterly cash dividend at an initial rate of $0.25 per share of common stock to be paid to its shareholders of record as of the close of business on November 15, 2024. The dividend is expected to be paid on November 29, 2024. The Board of Directors plans to evaluate the dividend policy on a regular basis, considering the Company’s earnings, cash flows, and alternative uses of and access to capital that may arise. Depending on these factors, future dividend payments may be increased or decreased and there is no assurance that future dividends will be paid.

 

Cryo-Cell’s Chairman of the Board and Co-CEO, David Portnoy, stated “This marks a significant step in the Company’s strategy to deliver value to its shareholders and does not detract from the ongoing evaluation of strategic alternatives for the Company.”

 

About Cryo-Cell International, Inc.

 

Founded in 1989, Cryo-Cell International, Inc. is the world’s first private cord blood bank. ‎More than 500,000 parents from 87 countries have entrusted Cryo-Cell International with ‎their baby’s cord blood and cord tissue stem cells. In addition to its private bank, Cryo-Cell ‎International has a public banking program in partnership with Duke University. Cryo-Cell’s ‎public bank has provided cord blood for more than 600 transplantations and operates cord ‎blood donation sites across the U.S in prominent hospitals such as Cedars–Sinai Hospital in ‎Los Angeles. Cryo-Cell’s facility is FDA registered, cGMP-/cGTP-‎compliant and licensed in all states requiring licensure. Besides being AABB accredited as a ‎cord blood facility, Cryo-Cell was also the first U.S. (for private use only) cord blood bank to ‎receive FACT accreditation for adhering to the most stringent cord blood quality standards ‎set by any internationally recognized, independent accrediting organization. Cryo-Cell has ‎the exclusive rights ‎to PrepaCyte-CB, the industry’s most advanced cord blood processing ‎technology.‎

 

Cryo-Cell’s mission is to provide the premier cord blood and cord tissue cryopreservation services, to develop, manufacture and administer cellular therapies to significantly improve the lives of patients worldwide and to offer the highest quality and most cost effective biostorage solutions available. ‎

 

Forward-Looking Statements

 

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In some cases, you can identify forward-looking statements by terminology such as “will,” “may,” “should,” “could,” “would,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “forecasts,” “potential” or “continue” or the negative of these terms or other comparable terminology. Generally, the words “anticipate,” “believe,” “continue,” “expect,” “intend,”

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“estimate,” “project,” “plan” and similar expressions identify forward-looking statements. In particular, statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance contain forward-looking statements.

 

We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. These forward-looking statements involve risks and uncertainties and reflect only our current views, expectations and assumptions with respect to future events and our future performance. If risks or uncertainties materialize or assumptions prove incorrect, actual results or events could differ materially from those expressed or implied by such forward-looking statements. Risks that could cause actual results to differ from those expressed or implied by the forward-looking statements we make include, among others, the success of the Company’s global expansion initiatives and product diversification, including its addition of the ExtraVault services, the Company’s actual future ownership stake in future therapies emerging from its collaborative research partnerships, the success related to its IP portfolio, the Company’s future competitive position in stem cell innovation, future success of its core business and the competitive impact of public cord blood banking on the Company’s business, the success of the Company’s initiative to expand its core business units to include biopharmaceutical manufacturing and operating clinics, the complexities, uncertainties, required consents and timing related to the potential spinoff of Celle Corp., the uncertainty of profitability from its biopharmaceutical manufacturing and operating clinics, the Company’s ability to minimize future costs to the Company related to R&D initiatives and collaborations and the success of such initiatives and collaborations and the success and enforceability of the Company’s umbilical cord blood and cord tissue license agreements, together with the associated intellectual property and their ability to provide the Company with royalty fees, along with the Risk Factors set forth in the Company’s Form 10-Q filed on October 15, 2024.

 

This list of risks and uncertainties, however, is only a summary of some of the most important factors and is not intended to be exhaustive. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements. These risks and uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. These forward-looking statements are made only as of the date hereof. Except as otherwise required by applicable law, we do not undertake and expressly disclaim any obligation to update any such statements or to publicly announce the results of any revisions to any such statements to reflect future events or developments. All subsequent written and oral forward-looking statements attributable to us, or to persons acting on our behalf, are expressly qualified in their entirety by these cautionary statements.

 

 

 

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Document And Entity Information	Oct. 29, 2024
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Document Type	8-K
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Document Period End Date	Oct. 29, 2024
Entity Registrant Name	CRYO-CELL INTERNATIONAL, INC.
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Entity Emerging Growth Company	false
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Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3023093
Entity Address, Address Line One	700 Brooker Creek Blvd.
Entity Address, City or Town	Oldsmar
Entity Address, State or Province	FL
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City Area Code	813
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Pre-commencement Tender Offer	false
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Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	CCEL
Security Exchange Name	NYSEAMER
Former Address [Member]
Document Information [Line Items]
Entity Address, Address Line One

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