Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 300

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 300
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 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 $4.96 per share. Pursuant to the debt purchase agreement, NLS agreed to grant the investor the right to purchase up to an additional $10.0 million worth of convertible NLS Preferred Shares beginning six months after the closing and continuing for as long as the investor owns NLS Preferred Shares. NLS also announced that it believes it has regained compliance with the minimum bid price requirement pursuant to Nasdaq Listing Rule 5550(a)(2), due to the fact that the NLS Common 130 Shares had traded above $1.00 for ten consecutive trading days. In addition, due in part to the foregoing transactions, NLS announced that it believes that it satisfies the shareholders’ equity requirement of at least $2.5 million pursuant to Nasdaq Listing Rule 5550(b)(1) for continued listing on the Nasdaq Capital Market. On November 4, 2024, the parties executed the Merger Agreement and the applicable ancillary documents, and the Company issued a press release announcing the transaction. Throughout the process, in determining the relative valuations of the companies for the Merger and Exchange Ratios, NLS and Kadimastem reviewed several comparable companies of comparable companies with similar businesses and market capitalizations