Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 355

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 355
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____________ *Represents NLS’s outstanding shares as of February 26, 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 net assets of NLS, including goodwill and other identifiable intangible assets of NLS will be recorded based upon their fair values at time of closing. The estimated fair value of the purchase price consideration will be based upon the number of NLS Shares expected to be outstanding at the time of the Business Combination along with the market price of NLS’s common stock on the date. As of February26, 2025, NLS’s Common Shares and NLS Common Shares underlying outstandings Preferred Shares, options and warrants are 5,664,722shares and based upon a $1.80 closing price of NLS’s common stock the pre -liminarypurchase price consideration is approximately $10,196,500million. The market price of NLS Common Stock has been deemed to be more reliably measurable than the value of the Kadimastem’s equity interests because, prior to the Closing, Kadimastem is traded on Tel -AvivStock Exchange (the “ TASE”) which is not considered as reliable as the NASDAQ stock exchange which is where NLS securities are traded.

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BENEFICIAL OWNERSHIP OF SECURITIES Security Ownership of Certain Beneficial Owners and Management of NLS before the Merger The following tables sets forth information regarding the beneficial ownership of NLS Common Shares as of February27, 2025 by: •each person known by NLS to be the beneficial owner of 5% or more of NLS’s outstanding Common Shares before the consummation of the Merger; •each of its executive officers and directors; •all of its executive officers and directors as a group. Unless otherwise indicated, NLS believes that all persons named in the table will have, immediately before the consummation of the Merger, sole voting and investment power with respect to all NLS