Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 257

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 257
---
 those expressly set forth in the Merger Agreement and the CVR Agreement, and such Holders’ sole right to receive property thereunder is the right to receive cash received from the sale of the Legacy Assets, if any, through the Rights Agent in accordance with the terms of the Merger Agreement and the CVR Agreement. A CVR shall not constitute a security of NLS. The CVR Agreement contains a number of covenants and the covenants made by NLS are customary for transactions similar to the CVR Transaction. Pursuant to the CVR Agreement, if an event of default occurs and is continuing or uncured, then the Rights Agent, or either party upon the written request of the majority of the Holders, may bring legal action to protect the rights of the Holders, including action for payment of amounts due, for damages or for injunctive relief. In any such action, the Rights Agent shall be deemed to represent all Holders. Amounts collected by the Rights Agent in any such suit shall be paid first to reimburse the legal fees and other costs and expenses incurred by the Rights Agent and the balance shall be distributed to the Holders. 128

COMPARATIVE SHARE INFORMATION The following table sets forth the historical comparative share information for NLS and Kadimastem on a stand -alonebasis and pro forma combined per share information after giving effect to the Merger. The pro forma combined value information reflects the Merger as if it had occurred on June30, 2024, and is computed by multiplying the historical number of Kadimastem by the Exchange Ratio. The pro forma combined share information below does not purport to represent what the actual results of operations or the earnings per share would been had the companies been combined during the periods presented, nor to project the combined company’s results of operations or earnings per share for any future date or period. The pro forma combined shareholders’ equity per share information below does not purport to represent what the value of NLS and Kadimastem would have been had the companies been combined during the periods presented. The unaudited pro forma book value information reflects the Merger as if occurred on June30, 2024. The weighted average shares outstanding and net earnings per share information reflect the Merger as if it had occurred on June30, 2024.

| As of and for the six months ended June 30, 2024 for NLS and Kadimastem |     | NLS          
 (Historical) |           |