SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
SABBY MANAGEMENT, LLC

(Last) (First) (Middle)
10 MOUNTAINVIEW ROAD
SUITE 205

(Street)
UPPER SADDLE RIVER NJ 07458

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Celsus Therapeutics Plc. [ CLTX ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
03/31/2014
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Shares 03/31/2014 P 7,936 A $6.35 669,080 I See Footnotes (1) (2)
Common Shares 03/17/2014 P 2,400 A $6.65 661,144 I See Footnotes (1) (2)
Common Stock 04/01/2014 P 500 A $6.18 669,580 I See Footnotes (1) (2)
Common Stock 04/01/2014 P 7,375 A $6.08 676,955 I See Footnotes (1) (2)
Common stock 04/01/2014 P 7,496 A $6.12 684,451 I See Footnotes (1) (2)
Common stock 04/02/2014 P 2,500 A $6.15 686,951 I See Footnotes (1) (2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
SABBY MANAGEMENT, LLC

(Last) (First) (Middle)
10 MOUNTAINVIEW ROAD
SUITE 205

(Street)
UPPER SADDLE RIVER NJ 07458

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Sabby Healthcare Volatility Master Fund, Ltd.

(Last) (First) (Middle)
C/O SABBY MANAGEMENT, LLC
10 MOUNTAINVIEW ROAD, SUITE 205

(Street)
UPPER SADDLE RIVER NJ 07458

(City) (State) (Zip)
1. Name and Address of Reporting Person*
Mintz Hal

(Last) (First) (Middle)
C/O SABBY MANAGEMENT, LLC
10 MOUNTAINVIEW ROAD, SUITE 205

(Street)
UPPER SADDLE RIVER NJ 07458

(City) (State) (Zip)
Explanation of Responses:
1. This Form 4 is being filed by Sabby Healthcare Volatility Master Fund ("SHVMF"), Sabby Management ("Advisor") and Hal Mintz. The Advisor is the investment manager of SHVMF. Mr. Mintz is the manager of the Advisor.
2. The amounts reported herein reflect the entire amount of the Issuer's securities held by SHVMF as of each transaction date. Each of the Advisor and Mr. Mintz disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934 ("Section 16"), beneficial ownership of such securities, except to the extent of its/his pecuniary interest therein, and this report shall not be deemed an admission that either the Advisor or Mr. Mintz is the beneficial owner of such securities for pusposes of Section 16 or otherwise.
/s/ Robert Grundstein, COO and General Counsel of Sabby Management, LLC 04/02/2014
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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