Cryo-Cell International, Inc. Appoints Arthur Ellis and Brian Sheehy to the Board of Directors
August 16, 2018 at 04:16 pm EDT
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Effective August 13, 2018, Cryo-Cell International, Inc. announced that Arthur Ellis and Brian Sheehy were appointed to the Board of Directors of the Company. Effective August 13, 2018, the Company entered into an agreement (the “agreement”) with Messrs. Ellis and Sheehy pursuant to which, among other things, the Board of Directors of the company agreed to take all necessary action to set the size of the Board at seven and appoint Messrs. Ellis and Sheehy to the Board and Messrs. Ellis and Sheehy agreed to resign from the Board if at any time thereafter they collectively own less than 5% of the shares of common stock of the company.
Cryo-Cell International, Inc. is a cord blood banking company. The Company operates through three segments: cellular processing and cryogenic storage for family use, with a focus on the collection and preservation of umbilical cord blood and tissue stem cells; manufacture of PrepaCyte CB Processing System (PrepaCyte CB) units, the processing technology used to process umbilical cord blood stem cells, and cellular processing and cryogenic storage of umbilical cord blood stem cells for public use. The Company stores approximately 235,000 cord blood and cord tissue specimens. The specimens are stored in commercially available cryogenic storage units at its technologically and operationally advanced facility. The Company markets its cord blood stem cell preservation services directly to expectant parents and by distributing information through obstetricians, pediatricians, childbirth educators, certified nurse-midwives, and other related healthcare professionals.
CRYO-CELL INTERNATIONAL, INC. 
