<SEC-DOCUMENT>0001193125-25-289897.txt : 20251120
<SEC-HEADER>0001193125-25-289897.hdr.sgml : 20251120
<ACCEPTANCE-DATETIME>20251120163613
ACCESSION NUMBER:		0001193125-25-289897
CONFORMED SUBMISSION TYPE:	SCHEDULE 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251120
DATE AS OF CHANGE:		20251120

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IMMUCELL CORP /DE/
		CENTRAL INDEX KEY:			0000811641
		STANDARD INDUSTRIAL CLASSIFICATION:	IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				010382980
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-39373
		FILM NUMBER:		251503525

	BUSINESS ADDRESS:	
		STREET 1:		56 EVERGREEN DR
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04103
		BUSINESS PHONE:		2078782770

	MAIL ADDRESS:	
		STREET 1:		56 EVERGREEN DRIVE
		CITY:			PORTLAND
		STATE:			ME
		ZIP:			04103

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Knudsen Ejnar A III
		CENTRAL INDEX KEY:			0001674241
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13D/A

	MAIL ADDRESS:	
		STREET 1:		1811 AKSARBEN DRIVE
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68106
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13D/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13D" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>SCHEDULE 13D/A</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001674241</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>1</amendmentNo>
      <securitiesClassTitle>Common Stock, $0.10 par value per share</securitiesClassTitle>
      <dateOfEvent>11/19/2025</dateOfEvent>
      <previouslyFiledFlag>false</previouslyFiledFlag>
      <issuerInfo>
        <issuerCIK>0000811641</issuerCIK>
        <issuerCUSIP>045252306</issuerCUSIP>
        <issuerName>ImmuCell Corporation</issuerName>
        <address>
          <street1 xmlns="http://www.sec.gov/edgar/common">56 Evergreen Drive</street1>
          <city xmlns="http://www.sec.gov/edgar/common">Portland</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">ME</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">04103</zipCode>
        </address>
      </issuerInfo>
      <authorizedPersons>
        <notificationInfo>
          <personName>Ejnar A. Knudsen III</personName>
          <personPhoneNum>(530) 564-0626</personPhoneNum>
          <personAddress>
            <street1 xmlns="http://www.sec.gov/edgar/common">212 West Superior</street1>
            <street2 xmlns="http://www.sec.gov/edgar/common">Suite 500</street2>
            <city xmlns="http://www.sec.gov/edgar/common">Chicago</city>
            <stateOrCountry xmlns="http://www.sec.gov/edgar/common">IL</stateOrCountry>
            <zipCode xmlns="http://www.sec.gov/edgar/common">60654</zipCode>
          </personAddress>
        </notificationInfo>
      </authorizedPersons>
    </coverPageHeader>
    <reportingPersons>
      <reportingPersonInfo>
        <reportingPersonCIK>0001674241</reportingPersonCIK>
        <reportingPersonNoCIK>N</reportingPersonNoCIK>
        <reportingPersonName>Ejnar A. Knudsen III</reportingPersonName>
        <memberOfGroup>b</memberOfGroup>
        <fundType>OO</fundType>
        <legalProceedings>N</legalProceedings>
        <citizenshipOrOrganization>X1</citizenshipOrOrganization>
        <soleVotingPower>465790</soleVotingPower>
        <sharedVotingPower>367000</sharedVotingPower>
        <soleDispositivePower>465790</soleDispositivePower>
        <sharedDispositivePower>367000</sharedDispositivePower>
        <aggregateAmountOwned>832790</aggregateAmountOwned>
        <isAggregateExcludeShares>N</isAggregateExcludeShares>
        <percentOfClass>9.21</percentOfClass>
        <typeOfReportingPerson>IN</typeOfReportingPerson>
      </reportingPersonInfo>
    </reportingPersons>
    <items1To7>
      <item1>
        <securityTitle>Common Stock, $0.10 par value per share</securityTitle>
        <issuerName>ImmuCell Corporation</issuerName>
        <issuerPrincipalAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">56 Evergreen Drive</street1>
          <city xmlns="http://www.sec.gov/edgar/common">Portland</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">ME</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">04103</zipCode>
        </issuerPrincipalAddress>
      </item1>
      <item2>
        <filingPersonName>Ejnar A. Knudsen III ("Knudsen" or the "Reporting Person")</filingPersonName>
        <principalBusinessAddress>212 West Superior, Suite 500, Chicago, IL 60654</principalBusinessAddress>
        <principalJob>The Reporting Person is the founder and chief executive officer of AGR Partners.</principalJob>
        <hasBeenConvicted>During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).</hasBeenConvicted>
        <convictionDescription>During the last five years, the Reporting Person has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which the Reporting Person was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.</convictionDescription>
        <citizenship>The Reporting Person is a citizen of the United States.</citizenship>
      </item2>
      <item3>
        <fundsSource>The source of the approximately $2,293,750 used in connection with the compulsory redemption of the limited partners of Craton Capital, LP ("Craton") pursuant to previously agreed upon terms, was general investment funds.</fundsSource>
      </item3>
      <item4>
        <transactionPurpose>All shares held by the Reporting Person are held by the Reporting Person for investment purposes.
The Reporting Person currently has no plans or proposals that relate to, or would result in, any of the matters described in subsections (a) through (j) of Item 4 of the instructions to Schedule 13D.</transactionPurpose>
      </item4>
      <item5>
        <percentageOfClassSecurities>832,790; 9.21% (based on the outstanding number of shares reported as being outstanding as of October 31, 2025 in the Quarterly Report on Form 10-Q of ImmuCell Corporation (the "Company") filed with the Securities and Exchange Commission on November 11, 2025)</percentageOfClassSecurities>
        <numberOfShares>The Reporting Person has sole voting power and sole dispositive power with respect to 465,790 shares of the Company's common stock.  The Reporting Person has shared voting power and shared dispositive power with respect to 367,000 shares of the Company's common stock.  </numberOfShares>
        <transactionDesc>As of the date hereof, the Reporting Person is the beneficial owner of 832,790 shares of common stock representing approximately 9.21% of the approximately 9,045,851 shares outstanding, as disclosed in the Company's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 13, 2025.  The Reporting Person's beneficial ownership consists of 465,790 shares of common stock of the Company over which the Reporting Person has sole voting power and sole dispositive power.  These shares are held directly by the Reporting Person or indirectly by entities the Reporting Person controls. Craton is the record owner of 367,000 shares the Company's common stock.  The compulsory redemption of the limited partners of Craton resulted in Knudsen having an increased ownership in the remaining securities, including the Company.  Knudsen has an interest in Craton's general partner and is the direct or indirect owner of various family limited partner accounts remaining with Craton.  Knudsen and Raju Shah are the only remaining partners of Craton.  Knudsen may be considered to share the power to vote or direct the vote of, and the power to dispose or direct the disposition of, 367,000 shares of the Company's common stock owned of record by Craton. This statement on Schedule 13D shall not be construed as an admission that any Reporting Person is the beneficial owner of the securities covered by this statement.</transactionDesc>
        <listOfShareholders>Not applicable.</listOfShareholders>
        <date5PercentOwnership>Not applicable.</date5PercentOwnership>
      </item5>
      <item6>
        <contractDescription>Not applicable.</contractDescription>
      </item6>
      <item7>
        <filedExhibits>Not applicable.</filedExhibits>
      </item7>
    </items1To7>
    <signatureInfo>
      <signaturePerson>
        <signatureReportingPerson>Ejnar A. Knudsen III</signatureReportingPerson>
        <signatureDetails>
          <signature>/s/ Ejnar A. Knudsen III</signature>
          <title>Ejnar A. Knudsen III</title>
          <date>11/20/2025</date>
        </signatureDetails>
      </signaturePerson>
    </signatureInfo>
  </formData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
