Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 364

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 364
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 reverse split became effective in Switzerland on September 18, 2024. The reverse stock split was at a ratio of 1 -for-40. 5.Estimated Purchase Price Consideration On November4, 2024, NLS, Kadimastem and Merger Sub entered into the Merger Agreement, pursuant to which, Merger Sub will merge with and into Kadimastem, with Kadimastem surviving as a wholly -ownedsubsidiary of NLS. Pursuant to the Merger Agreement, the Kadimastem shareholders agreed to convert their share capital in exchange for the right to receive a number of validly issued, fully paid and nonassessable NLS Common Shares, equal to the Exchange Ratio (as defined in the Merger Agreement), per each such Kadimastem Ordinary Share. The following is a summary of the components of the estimated consideration in equity if the acquisition of Kadimastem had occurred on June 30, 2024:

| Estimated outstanding NLS Common Shares and NLS Common Shares underlying outstandings Preferred Shares, options and warrants* |     |  7,664,722 |   |
| Estimated Kadimastem Shares at time of the Business Combination (assuming exercise of all Common Warrants into NLS Shares)*   |     |  7,160,500 |   |
| Elimination of Kadimastem Shares                                                                                              |     | (7,160,500 | ) |
| Issuance of NLS Common Shares issued to Kadimastem shareholders                                                               |     | 30,658,888 |   |
| Combined entities Common Shares outstanding at Closing                                                                        |     | 38,323,610 |   |
| Exchange Ratio:                                                                                                               |     |     4.2817 |   |

____________ *Represents NLS’s outstanding shares as of March 28, 2025. The Business Combination will be considered an acquisition of a business and will be accounted for under IFRS 3 which will require the measurement of assets acquired and liabilities to be determined at the time of closing. The acquisition -datefair value of the consideration transferred will be calculated based on the equity interests held by NLS’s preexisting shareholders and retained post -combination. The estimated fair value of the purchase price consideration will be determined at the time of closing based on the fair market value of NLS Stock Price and will be allocated based on the assets and liabilities of NLS that will be reflected at carrying value and the