Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 115

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 115
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 with Nasdaq, as required by Nasdaq to effect the issuance of NLS Common Shares in connection with the Merger or upon exercise of options or warrants or other rights issued and outstanding, whether vested or unvested, to purchase Kadimastem Ordinary Shares that will be assumed by NLS in connection with the Merger. If such application is accepted, NLS anticipates that its securities will be listed on the Nasdaq Capital Market following the Closing, and subject to approval of Proposals1,2,4,6,8, 13 and 14 in the NLS Meeting, will trade under NLS’s new name, NUCLEX AG. Anticipated Accounting Treatment (Pages 162) The most recent financial information available for NLS for twelve months ended December 31, 2024 has been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. The most recent financial information available for Kadimastem for the twelve months ended December 31, 2024 has been prepared in accordance with International Financial Reporting Standards, or IFRS, as issued by the International Accounting Standards Boards, or IASB. The Merger is anticipated to be accounted for using the acquisition method (as a reverse triangular merger), with goodwill and other identifiable intangible assets recorded in accordance with IFRS, as applicable to be determined at the time of Merger. Under this method of accounting, NLS is anticipated to be treated as the “acquired” company for financial reporting purposes, and Kadimastem is to be the accounting acquirer based upon the terms of the Merger Agreement and other factors, including: (i) the expectation that Kadimastem shareholders will own approximately 80 -85% of the voting interests of the combined company immediately following the Closing; (ii) directors appointed 20 by Kadimastem will constitute the majority of the board of directors of the combined company; and (iii) employees of Kadimastem will constitute the majority of the management of the combined company. Therefore, Kadimastem is anticipated to be the accounting acquirer because it is anticipated to control the board of directors, management of the combined company, and the preexisting shareholders of Kadimastem are expected to have the majority voting rights of the combined company. Comparison of Shareholders’ Rights (Page 288) Upon completion of the Merger, Kadimastem’s shareholders immediately prior to the Effective Time of the Merger will receive