Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 493

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 493
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 line of credit or similar agreement without the consent of the majority of the preferred shareholders. The transaction closed on October 10, 2024. Also on October 9, 2024, we entered into a securities purchase agreement with an accredited investor to satisfy $4.0 million of our debt by issuing 806,452 newly designated convertible preferred shares at a purchase price of $4.96 per share. The preferred shares have a conversion price of $4.96 per share. The investor was granted the right to purchase up to an additional $10.0 million worth of convertible preferred shares starting six months after the closing and continuing as long as they own preferred shares. The investor also has the right to participate in up to 50% of future offerings for one year following the closing. We agreed not to enter into an equity line of credit or similar agreement without the consent of the majority of the preferred shareholders. This transaction also closed on October 10, 2024. Kadimastem Ronen Twito Employment Agreement On January30, 2025, Kadimastem updated the employment agreement with Mr.Twito, to serve as the CEO and Chairman of Kadimastem. Kadimastem agreed to pay Mr.Twito an annual salary of $370,188 (including social benefits) which will increase to $413,743 upon the combined company completing a capital raise greater than $10million following the Merger (a “Trigger Financing”) and a bonus payment, subject to the discretion of the board of directors. Under the employment agreement with Kadimastem, Mr.Twito received 157,995 RSUs to be settled into such number of Kadimastem Ordinary Shares as provided under the agreement, vested over a two -yearperiod. The agreement includes acceleration provisions including at the Closing of the Merger. At the Closing of the Merger the unvested RSUs convert into RSUs of NLS, in accordance with the terms of the Merger Agreement. Under the employment agreement, upon the Closing of the Merger, Mr.Twito shall also be entitled to a bonus equal to the NIS equivalent of $100,000. The employment agreement also provides that either party may terminate the employment agreement with 9months’ prior notice, 3 -monthadaptation period. Mr.Twito is also subject to a 12 -monthnon -competitionand non -solicitationclauses. The employment agreement also provides for standard confidentiality provisions as well as reimbursement for certain