Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 311

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 311
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 shall have been accepted and approved (subject to official notice of issuance), and the Nasdaq listing application for initial listing of NLS following the Merger and of NLS Common Shares being issued pursuant to the Merger Agreement shall have been approved. NLS has filed a listing of additional securities application with Nasdaq, as required by Nasdaq to effect the issuance of NLS Common Shares in connection with the Merger or upon exercise of options or warrants or other rights issued and outstanding, whether vested or unvested, to purchase Kadimastem Ordinary Shares that will be assumed by NLS in connection with the Merger. If such application is accepted, NLS anticipates that its securities will be listed on the Nasdaq following the closing of the Merger and, subject to approval of Proposals1,2,4,6,8, 12 and 13 in the NLS Meeting, will trade under NLS’s new name, NUCLEX AG under the symbols “NCEL” and “NCELW” for its Common Shares and traded warrants, respectively. Anticipated Accounting Treatment The most recent financial information available for NLS for the twelve months ended December31, 2024, has been prepared in accordance with U.S. GAAP. The most recent financial information available for Kadimastem for the twelve months ended December31, 2024 has been prepared in accordance with IFRS, as issued by the IASB. The Merger is anticipated to be accounted for using the acquisition method (as a reverse triangular merger), with goodwill and other identifiable intangible assets recorded in accordance with IFRS, as applicable to be determined at the time of Merger. Under this method of accounting, NLS is anticipated to be treated as the “acquired” company for financial reporting purposes, and Kadimastem is to be the accounting acquirer based upon the terms of the Merger Agreement and other factors, including: (i) the expectation that Kadimastem shareholders will own approximately 80 -85% of the voting interests of the combined company immediately following the Closing; (ii) directors appointed by Kadimastem will constitute the majority of the board of directors of the combined company; and (iii) employees of Kadimastem will constitute the majority of the management of the combined company. Therefore, Kadimastem is anticipated to be the accounting acquirer because it is anticipated to control the board of directors, management of the combined company, and the preexisting shareholders of Kad