Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 3

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 3
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 as of the closing of the Merger (the “Closing”), including as a result of estimated closing cash of NLS and Kadimastem and estimated closing indebtedness of NLS. The target fully diluted share split of 85% / 15% is subject to adjustment pursuant to the terms of the Merger Agreement, including as a result of estimated closing cash of NLS and Kadimastem and estimated closing indebtedness of NLS. Based on the cash balance of NLS following its most recent financing transactions from October 2024 and December 2024 (for more information please see “ NLS’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Financing Activities” in this proxy statement/prospectus), the parties currently estimate the fully diluted share split at the Closing will be 80% to Kadimastem shareholders and 20% to NLS shareholders. The Merger Agreement provides that, upon the terms and subject to the conditions thereof, following the Closing, the Company shall work diligently to dispose of any intellectual property, assets, rights, contracts, agreements, leases, arrangements (regardless of form), approvals, licenses, permits, whether current or future, whether or not contingent, of the Company and its subsidiaries related solely to any product candidate of the Company and its subsidiaries, other than the Company’s Dual Orexin Agonist platform (“DOXA”). It is expected that the proceeds from any such disposition will be distributed to the shareholders and warrant holders of the Company as of immediately prior to the Effective Time pursuant to the terms and conditions of a contingent value rights agreement, substantially in the form attached to the Merger Agreement and as Exhibit 99.4 to the registration statement of which this proxy statement/prospectus forms a part (the “CVR Agreement”) subject to the adjustments set forth therein. NLS’s officers (other than Mr. Konofal who shall remain in a part -timeposition with NLS) and members of the NLS board of directors (the “NLS Board”), will resign as of the Effective Time and it is anticipated that Kadimastem’s executive officers and members of its board of directors (the “Kadimastem Board”), as of the Effective Time will become NLS’s executive officers and members of the NLS Board; provided, however, that Mr. Alexander Zwyer shall not resign as a member of the NLS Board at the Effective Time and shall remain as a member of the NLS Board and, from the date of