ImmuCell Corporation Announces Pricing of $5.9 Million Public Offering of Common Shares

PORTLAND, ME--(Marketwired - January 29, 2016) - ImmuCell Corporation ("ImmuCell" or the "Company") (ICCC), an animal health company that is developing, manufacturing and selling products that improve health and productivity in the dairy and beef industries, today announced the pricing of its previously announced underwritten public offering of 1,123,810 shares of common stock (the "Offering") at a price to the public of $5.25 per share. Net proceeds to the Company from the Offering are expected to be approximately $5.3 million, after deducting underwriting commissions and other expenses related to the Offering.

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Craig-Hallum Capital Group LLC is acting as sole underwriter for the Offering.

The Offering is expected to close on or about February 3, 2016, subject to customary closing conditions.

ImmuCell intends to use the net proceeds from the Offering to construct and equip a facility that will produce Nisin, the active ingredient in the Company's Mast Out® product for treatment of subclinical mastitis in lactating dairy cows.

The shares are being offered pursuant to an effective shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission ("SEC"). The securities may be offered only by means of a prospectus. The prospectus and a preliminary prospectus supplement related to the offering have been filed with the SEC, and a final prospectus supplement and accompanying prospectus related to the offering will be filed with the SEC, and will be available on the SEC's website located at http://www.sec.gov and may also be obtained from Craig-Hallum Capital Group, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, telephone 612-334-6300, email: [email protected]

This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, nor may there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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About ImmuCell

ImmuCell Corporation's (ICCC) purpose is to create scientifically-proven and practical products that improve animal health and productivity in the dairy and beef industries. ImmuCell has developed products that provide significant, immediate immunity to newborn dairy and beef livestock. The Company has also developed products that address mastitis, the most significant cause of economic loss to the dairy industry. Press releases and other information about the Company are available at: http://www.immucell.com.

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