Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 299

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 299
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2024, Pearl Cohen sent a revised draft of the Merger Agreement to Sullivan, which included comments regarding the equity awards and warrants. The parties agreed to transfer all the Kadimastem equity awards to NLS, and between September 23, 2024 and November 4, 2024, Sullivan and Pearl Cohen exchanged drafts and negotiated further the equity awards provisions in the Merger Agreement. On September23, 2024, NLS, Kadimastem, Sullivan and Pearl Cohen had a call to discuss warrants, the Merger Agreement, the registration statement on Form F -4and the CVR Agreement. On September 25, 2024, NLS announced that a reverse share split of the NLS Common Shares, at a ratio of 1 -for-40is expected to be implemented at market open on September 27, 2024, or the September 2024 Reverse Split in order to achieve compliance with Nasdaq listing standards. On September 27, 2024, the September 2024 Reverse Split became effective and the NLS Common Shares began trading on Nasdaq on a post -splitbasis at the market open on September 27, 2024. The September 2024 Reverse Split, approved by NLS shareholders on September 18, 2024, combined 40 NLS Common shares into one, reducing outstanding NLS Common Shares from 46,880,000 to approximately 1,172,000. The September 2024 Reverse Split was a crucial step for NLS to regain Nasdaq compliance, which was one of the key closing conditions of the Merger Agreement. On October 15, 2024, NLS announced the closing of a private placement offering consisting of the issuance and sale of 806,452 NLS Common Shares and common share purchase warrants to purchase 806,452 NLS Common Shares, at a combined purchase price of $3.97, for aggregate gross proceeds of $3.2 million. The warrants have a term of five years and have an exercise price of $4.25 per share. In addition, NLS closed a debt purchase agreement, with an accredited investor, pursuant to which in exchange for the satisfaction of the NLS’s debt in the aggregate amount of $4.0 million held by the investor, NLS agreed to issue 806,452 newly designated convertible NLS Preferred Shares, at a purchase price of approximately $4.96. Such NLS Preferred Shares contain a conversion price of $4.