Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 41

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 41
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 prior to the Closing. For a more complete description of the closing conditions under the Merger Agreement, please see the section entitled “ Conditions to the Consummation of the Merger” beginning on page 123 of this proxy statement/prospectus. Q. What is the anticipated liquidity position of the combined company following the Merger? NLS and Kadimastem believe that the combined liquidity at Closing on a consolidated basis will be approximately $6.5million, with a combined amount of debt equal to approximately $1.0million. NLS performed a debt to equity conversion on October15, 2024 and is free of past liabilities, except for current working capital needs. NLS believes that as of the Closing it will have sufficient funds to commence Kadimastem’s Phase IIa trial for amyotrophic lateral sclerosis, or ALS. Kadimastem estimates that the financing requirements of the Phase IIa trial will be between $10.0million and $15.0million. Following the Merger, the combined company intends to conduct a few new drug reviews in order to introduce the combined company and all of its products to the market. In addition, we agreed to grant an investor the right to purchase up to an additional $10million worth of convertible preferred shares under a securities purchase agreement we entered into on October9, 2024 with an accredited investor, or the Debt Purchase Agreement, which is available to NLS’s resources based on market conditions and its performance. For more information regarding the terms of the Debt Purchase Agreements and $10million facility thereunder, please see “ NLS’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Financing Activities”in this proxy statement/prospectus. In connection with the Merger, the combined company anticipates incurring approximately $1.5million of expenses in connection with the Merger. These fees include, legal fees, audit fees, valuators, tax advisors, due diligence services, and printer services. Q. Is Nasdaq listing approval a condition to the closing of the Merger? Yes. Per Section 6.2.10 of the Merger Agreement, Nasdaq Capital Market, or Nasdaq, listing approval is a condition to the closing of the Merger. Specifically, the Merger Agreement provides that the NLS Common Shares shall remain listed on the Nasdaq and shall not be subject to a delisting notice from Nasdaq, that the notification form for the listing of the NLS Common Shares to be issued in connection with