Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 271

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 271
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 Common Shares. Brokerage commissions and other costs of transactions in odd -lotsare generally higher than the costs of transactions in “round -lots” of even multiples of 100shares. An additional principal effect of the reverse split would be to decrease the number of outstanding NLS Common Shares. Except for de minimis adjustments that may result from the treatment of fractional shares as described below, the reverse split will not have any dilutive effect on shareholders since each shareholder would hold the same percentage of NLS Common Shares outstanding immediately following the reverse split as such shareholder held immediately prior to the reverse split. The relative voting and other rights that accompany the NLS Common Shares would not be affected by the reverse split. The table below sets forth, for informational purposes only, an example the number of NLS Common Shares outstanding before and after a reverse split assuming a two -for-one(2:1) and a twenty- for -one(20:1) ratio based on NLS Common Shares outstanding, but before the capital increase to allow issuance of Merger Compensation Shares.

|                                                 |     |     Prior 
    to the 
   Reverse 
     Split |     |    Assuming 
  a two-for- 
 one Reverse 
    Split(1) |     | Assuming 
  a five- 
  for-one 
  Reverse 
 Split(1) |     | Assuming 
   a ten- 
  for-one 
  Reverse 
 Split(1) |     |   Assuming 
 a fifteen- 
    for-one 
    Reverse 
   Split(1) |     |  Assuming 
 a twenty- 
   for-one 
   Reverse 
  Split(1) |
| Aggregate Number of Shares of NLS Common Shares |     | 4,908,034 |     |   2,454,017 |     |  981,607 |     |  490,804 |     |    327,203 |     |   245,402 |

____________ (1)Numbers are approximate and do not take into account rounding for fractional shares. Under Swiss law, the NLS Board must not issue fractional shares. Therefore, NLS does not issue certificates representing fractional shares. NLS will pay to shareholders of record who would hold fractions because the number of NLS Common Shares they hold before the reverse split is not evenly divisible by the reverse split ratio a cash compensation, at the discretion of the NLS Board, either based on the five trading days volume weighted average market price at Nasdaq immediately before the implementation of