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Share Repurchase Plan | 9 Months Ended
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Aug. 31, 2015
Equity [Abstract] |
Share Repurchase Plan | Note 7 – Share Repurchase Plan In December 2011, the Company’s Board of Directors authorized management at its discretion to repurchase up to one million (1,000,000) shares of the Company’s outstanding common stock. On June 6, 2012, the Board of Directors of the Company increased the number of shares of the Company’s outstanding common stock that management is authorized to repurchase to up to three million (3,000,000). On April 8, 2015, the Board of Directors of the Company increased the number of shares of the Company’s outstanding common stock that management is authorized to repurchase to up to six million (6,000,000) shares. The repurchases must be effectuated through open market purchases, privately negotiated block trades, unsolicited negotiated transactions, and/or pursuant to any trading plan that may be adopted in accordance with Rule 10b5-1 of the Securities and Exchange Commission or in such other manner as will comply with the provisions of the Securities Exchange Act of 1934. On June 30, 2015, the Company commenced a partial tender offer to purchase up to 750,000 shares of its common stock, at a price of $3.25 per share. The maximum number of shares proposed to be purchased in the tender offer represented 7.76% of Cryo-Cell’s outstanding common shares (including shares of unvested restricted stock) as of June 30, 2015. On June 29, 2015, the last trading day prior to the commencement of the tender offer, the last sale price of Cryo-Cell’s shares reported on the OTCBB was $2.29 per share. The tender offer expired on July 28, 2015. Cryo-Cell accepted for purchase 557,805 shares of its common stock, including all “odd lots” properly tendered, at a purchase price of $3.25 per share, for an aggregate cost of $1,812,866 excluding fees and expenses relating to the tender offer. As of August 31, 2015, the Company had repurchased an aggregate of 3,173,536 shares of the Company’s common stock, inclusive of the shares that were accepted as part of the tender offer, at an average price of $2.54 per share through open market and privately negotiated transactions. The Company purchased 957,956 and 968,302 shares of the Company’s common stock during the nine months ended August 31, 2015 and August 31, 2014, respectively, at an average price of $3.08 per share and $2.37 per share, respectively. The repurchased shares will be held as treasury stock and have been removed from common shares outstanding as of August 31, 2015 and November 30, 2014. As of August 31, 2015 and November 30, 2014, 3,173,536 and 2,215,111 shares, respectively, were held as treasury stock. Subsequent to the balance sheet date, the Company repurchased an additional 12,405 shares of the Company’s common stock at an average price of $3.44 per share through open market and privately negotiated transactions.

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- Definition The entire disclosure for treasury stock, including, but not limited to, average cost per share, description of share repurchase program, shares repurchased, shares held for each class of treasury stock. + References No definition available. + Details
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