Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 123

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 123
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em Ordinary Shares trades on the TASE under the symbol “KDST”. The table below sets forth the closing price per NLS Common Share on Nasdaq and per Kadimastem Ordinary Share on TASE on July 29, 2024, the date preceding public announcement of the Merger, and on July 9, 2025, the latest practicable date before the date of this proxy statement/prospectus, and the equivalent price of Kadimastem Ordinary Share (as determined by multiplying the closing price per share of NLS Common Share by the Exchange Ratio based on the current estimate that application of the Exchange Ratio formula at the Closing will result in Kadimastem shareholders collectively holding approximately 83% and NLS shareholders holding approximately 17% of the outstanding NLS Common Shares on a fully diluted basis) on each such date.

| Date          |     |    NLS Common 
 Share closing 
     price per 
         share 
           ($) |     |      Kadimastem 
  Ordinary Share 
         closing 
 price per share 
          ($)(1) |     |         Market 
 capitalization 
         of NLS 
   Common Share |     |         Market 
 capitalization 
  of Kadimastem 
 Ordinary Share |     |        Equivalent 
   value of Merger 
 consideration per 
        Kadimastem 
          Ordinary 
          Share(2) |
| July 29, 2024 |     |          9.35 |     |            1.59 |     |     31,040,091 |     |      6,661,646 |     |        12,321,983 |
| July 9, 2025  |     |          2.28 |     |            7.31 |     |      9,446,617 |     |     32,983,874 |     |        53,313,340 |

____________ (1)As Kadimastem Ordinary Shares trade on the TASE, there is a lack of liquidity. It is therefore difficult to determine a current active market valuation. Prior to the announcement of the deal, daily trading volume was around $1,500. (2)In accordance with the Merger Agreement on a fully diluted basis. Represents the total value of Kadimastem Ordinary Shares to be exchanged for NLS Common Shares as part of the Merger. (3)Moore’s valuation report for Kadimastem attached to this proxy statement/pro