Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 185

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 185
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 a capital band pursuant to which share capital that can be issued by the NLS Board without additional shareholder approval, Swiss law limits this capital band to 50% of the share capital registered in the commercial register at the time of the introduction of the capital band. The capital band, furthermore, has a limited duration of up to five years and must be renewed by the shareholders from time to time thereafter in order to be available for raising capital. Additionally, subject to specified exceptions, including exceptions explicitly described in the Articles, Swiss law grants pre -emptiverights to existing shareholders to subscribe for new issuances of shares, which may be limited or withdrawn under certain conditions. Swiss law also does not provide as much flexibility in the various rights and regulations that can attach to different classes of shares as do the laws of some other jurisdictions. Swiss law requirements relating to capital management may limit NLS’s flexibility, and situations may arise where greater flexibility would have provided benefits to its shareholders. Please see the sections entitled “ Description of NLS Securities” and “ Comparison of Shareholders’ Rights and Corporate Governance.” NLS Common Shares are listed on The Nasdaq Capital Market. NLS can provide no assurance that it will be able to comply with the continued listing requirements over time and that NLS Common Shares will continue to be listed on Nasdaq. NLS can give no assurance that it will be able to satisfy the continued listing requirements of Nasdaq in the future, including but not limited to the corporate governance requirements and the minimum closing bid price requirement or the minimum equity requirement. On March31, 2022, NLS received a deficiency letter from the Listing Qualifications Department of the Nasdaq Stock Market notifying us that, based on NLS’s shareholders’ equity of $542,388 as of December31, 2021, NLS was no longer in compliance with the minimum shareholders’ equity requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550(b)(1), which requires listed companies to maintain shareholders’ equity of at least $2.5million. On May16, 2022, NLS submitted its proposed plan of compliance to Nasdaq to achieve and sustain 58 compliance with the foregoing listing requirement. On May27, 2022, NLS received a notice from Nasdaq advising that NLS was granted an extension to regain compliance with the shareholders’ equity requirement until September27, 2022. The Nasdaq listing rules require a minimum bid price of $1.00 per share for continued listing on The Nasdaq Capital