Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 38

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 38
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 reverse split ratio will be within a range of two -for-one(2:1) to twenty -for-one(20:1). The final Exchange Ratio will be determined pursuant to a formula and in accordance with the terms of the Merger Agreement. The final Exchange Ratio is subject to certain adjustments, including as a result of estimated cash of NLS and Kadimastem and estimated indebtedness of NLS, in each case as measured at the close of business on the day preceding the NLS Meeting. The number of new registered NLS Common Shares to be issued to Kadimastem shareholders will be between 30,000,000 and 70,000,000shares (before applying the reverse split ratio). The reverse split ratio has an impact on the possible par value reduction and as a result on the cash capital increase required to allow the reverse split ratio. The cash capital increase is expected to be less than CHF 1.00 in total. Since the nominal registered capital after the Closing needs to be

at least as high as the nominal registered capital in place before this NLS Meeting resolution takes effect, NLS would use shares issued to the Kadimastem shareholders as Merger consideration. Therefore, the final split ratio of the Merger has an indirect impact on the par value reduction. The figures set above will be decided no later than the morning of the NLS Meeting. This does not constitute an amendment to the proposal given that this has no economic impact on the shareholders. 3.Ordinary Share Capital Increase by Issuing Preferred Shares Explanation:The Company entered into a securities purchase agreement dated December 4, 2024 (the “ PIPE SPA”), with a certain accredited investor. Pursuant to the terms of the PIPE SPA, the Company has agreed to obtain shareholder approval to authorize 10,000,000 Preferred Shares (pre -split) for the purpose of allowing the investor in the PIPE SPA to elect to receive Preferred Shares under the PIPE SPA. Proposal:The Board of Directors proposes that the Company’s share capital shall be increased by means of an ordinary capital increase as follows: (i)Nominal amount by which the share capital is to be increased: a maximum of CHF 30,000. (ii)Amount of contributions to be made thereon: 100% of the par value (fully paid -up). (iii)The number, par value and type of newly issued shares as well as any preferential rights attached to individual classes of shares: a maximum of 500,000 registered