Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 116

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 116
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 apply to NLS as if it were a company listed in Switzerland. In particular, the Swiss rules under the Swiss Financial Market Infrastructure Act on disclosure of shareholdings and the tender offer rules under the Swiss Financial Market Infrastructure Act, including mandatory tender offer requirements and regulations regarding voluntary tender offers, which are typically available in relation to Swiss -listedcompanies, do not apply to NLS because it is not listed in Switzerland. In the United States, NLS must comply with applicable federal and state securities laws and the rules and regulations of Nasdaq in connection with the issuance of NLS Common Shares and the filing of this proxy statement/prospectus with the SEC. As a condition to Closing, the Merger Agreement sets forth that Kadimastem shall obtain a court approval for the Merger, under sections 350 and 351 of the Companies Law. According to the Companies Law, the required majority at a general meeting of shareholders to approve a merger as described is a majority of the number of voting participants, excluding abstainers, who hold at least three -quarters(3/4) of the voting power represented at such meeting, in accordance with Section 350(9) of the Companies Law. As part of the Merger, NLS Common Shares will be offered to Kadimastem’s shareholders. As such, it is plausible to conclude that NLS is making an offer to the public and is required to file a prospectus with the Israeli Securities Authority. Based on the foregoing, Kadimastem has requested that the ISA approve an exemption to the foregoing requirement given that NLS is a public company traded on Nasdaq and therefore subject to the Securities Act, and as such, all relevant information is available to the Israeli public, and NLS shall continue to provide information in accordance with the Securities Act. Kadimastem’s request remains in process with the ISA. Pursuant to Kadimastem’s petition to the court, the court ordered that Kadimastem will convene a shareholders’ meeting for approval of the Merger. The court further subsequently approved the Merger under sections 350 and 351 of the Companies Law. Governance of the Company after the Merger (Page 152) NLS will amend its articles of association as set out in the proposals to the shareholders meeting. The articles of association of the Company will otherwise remain unchanged. The current members of the Kadimastem Board will continue to serve as the members of the board of directors of Kadimastem post -Merger. Subject to the