Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 61

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 61
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 the Merger Agreement and other matters relating to the NLS Meeting or with respect to NLS Common Shares. Additional important information is contained in the cross -referencedsections, the annexes to, and the sections and documents incorporated by reference in, this proxy statement/prospectus. Q.Why am I receiving this proxy statement/prospectus? You are receiving this proxy statement/prospectus because you have been identified as a shareholder of NLS as of the record date, and you are entitled to vote at the NLS Meeting to approve the matters described in this proxy statement/prospectus, NLS and Kadimastem have entered into the Merger Agreement that is described in this proxy statement/prospectus. Pursuant to the Merger Agreement, and amendments thereto, which is attached as Annex A hereto, upon the terms and subject to the conditions set forth therein, at the closing of the Merger, or the Closing, (i) Merger Sub will merge with and into Kadimastem, with Kadimastem as the surviving company, and (ii) at the Effective Time, each Kadimastem Ordinary Share will be exchanged for and automatically converted into the right to receive from NLS that certain number of fully paid and nonassessable NLS Common Shares as calculated pursuant to a formula and in accordance with the terms of the Merger Agreement, or the Exchange Ratio. The initial target share split resulted in Kadimastem shareholders holding approximately 85% and the Company holding approximately 15% on a fully diluted basis immediately following the Closing, or the Initial Split. The final Exchange Ratio is subject to certain adjustments, including as a result of estimated cash of NLS and Kadimastem and estimated indebtedness of NLS, in each case as measured at the close of business on the day preceding the NLS Meeting. The Exchange Ratio and related share allocations will be recalculated pursuant to the adjustment mechanisms set forth in the Merger Agreement, and the resulting split may vary from the Initial Split based on these estimates and other specified factors. Based on various factors, including gross cash proceeds from NLS’s financing transactions from October 2024 through June 2025 (approximately $6.7 million mostly from investors introduced to NLS by Kadimastem, which satisfy the Investment Proceeds Adjustment) (for more information please see “NLS’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Financing Activities”), and additional financing investments of approximately $2.5million to