Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 342

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 342
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 taken as a whole, since the date of the Merger Agreement which is continuing and uncured; •the D&O Run Off Policy shall be in effect; •a favorable tax ruling from the Federal Tax Authority shall have been obtained confirming that the stamp duty tax is triggered by the Merger Agreement; •Kadimastem shall have in gross funds (including cash in any of its bank accounts) an amount equal to at least $3,500,000, subject to adjustment based on the proceeds received by NLS from certain parties in connection with its financing transactions undertaken after the execution of the Merger Agreement. Kadimastem satisfied the Investment Proceeds Adjustment and will therefore not be required to have cash at Closing; •Kadimastem shall have received tax rulings in form and substance reasonably acceptable to NLS; and •Kadimastem shall have provided evidence reasonably satisfactory to NLS that Kadimastem Ordinary Shares shall have been delisted from the TASE effective as of the Effective Time. Unless waived by Kadimastem, the obligations of Kadimastem to consummate the Merger are subject to the satisfaction of the following additional conditions: •the representations and warranties of NLS and Merger Sub shall be true and correct as of the Closing (subject to Material Adverse Effect); •NLS and Merger Sub shall have performed in all material respects their respective obligations and complied in all material respects with their respective covenants and agreements under the Merger Agreement required to be performed or complied with on or prior to the date of the Closing; •the absence of any Material Adverse Effect with respect to NLS, taken as a whole, since the date of the Merger Agreement which is continuing and uncured; •NLS shall have paid off, redeemed or satisfied all of its Vendor Indebtedness; •NLS shall have terminated the employment and engagement of all of its employees and consultants and paid or otherwise satisfied all back pay, severance or termination pay, vacation pay and all other liabilities in respect of all such employment and engagement; •Nasdaq shall have rescinded its notice to NLS as to NLS’s failure to satisfy Nasdaq criteria for listing and trade thereon. On October29, 2024, the Company updated that NLS announced on October28, 2024, that it had received final approval from Nasdaq confirming that it meets the requirements to continue trading; •NLS shall have at least $600,000 in gross funds (including