Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 335

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 335
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 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 of the Merger, 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. In addition, in connection with the Merger, Kadimastem is in the process of obtaining a 103K Tax Ruling, from the tax authorities in Israel; both NLS and Kadimastem are required to comply with the provisions thereunder. Pursuant to the 103K Tax Ruling, shareholders of Kadimastem will sell their Kadimastem Ordinary Shares to NLS in exchange for NLS Common Shares, without the exchange being considered a tax event. The request for ruling has been submitted to the Israeli Tax Authority and is pending approval. Kadimastem shareholders have approved the following matters in connection with the Merger: 1.Approval of the Merger Agreement; 2.Approval of Kadimastemdelisting from trading on the Tel Aviv Stock Exchange Ltd. upon