Bio-Cell Ltd. (TASE:BCEL) entered into a merger agreement to acquire Fantasy65 LTD. in a stock merger on May 5, 2015. In exchange for 100% stake in Fantasy65, Bio-Cell will allot shares equal to 43% of its stake. Bio-Cell will allot rights to acquire additional 12% stake in new shares, subject to one of the following milestones : annual revenues of ILS 67.86 million and a minimum net annual income of ILS 25.21 million, "exit” event in which the Company will sell 100% of its stake in Fantasy65 at a minimum price of ILS 6.5 per share or the occurrence of a transaction that will lead the price per share in the Stock Exchange at ILS 7 for the period of 22 continued days. As of August 31, 2015, Bio-Cell’s shareholders approved the issue of 15.59 million common shares, 0.36 million warrants and 9.89 million rights exercisable into same number of common shares, to the shareholders of Fantasy65. The conversion for the value of annual revenues and minimum net annual income was made through www.oanda.com as on May 5, 2015. Bio-Cell Ltd. (TASE:BCEL) cancelled the acquisition of Fantasy65 LTD. in a stock merger on May 5, 2016.