Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 546

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 546
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 the share capital of the Swiss company. The Swiss Merger Act provides for the possibility of a so -called“cash -out” or “squeeze -out” merger if the acquirer controls 90% of the outstanding shares. In these limited circumstances, minority shareholders of the company being acquired may be compensated in a form other than through shares of the acquiring company (for instance, through cash or securities of a parent company of the acquiring company or of another company). Following a statutory merger or demerger, pursuant to the Merger Act, shareholders can file an appraisal action against the surviving company. If the consideration is deemed inadequate, the court will determine an adequate compensation payment. In addition, under Swiss law, the sale of “all or substantially all of our assets” (faktische Liquidation) by us may require a Supermajority Vote. Whether a shareholder resolution is required depends on the particular transaction, including whether the following test is satisfied: •a core part of our business is sold without which it is economically impracticable or unreasonable to continue to operate the remaining business; •our assets, after the divestment, are not invested in accordance with our statutory business purpose; and •the proceeds of the divestment are not earmarked for reinvestment in accordance with the company’s business purpose but, instead, are intended for distribution to our shareholders or for financial investments unrelated to our business. Takeover Regulation and Mandatory Bids Swiss law provides for certain rules and protections of shareholders of domestic listed companies. Because the NLS Common Shares are listed exclusively on the Nasdaq, however, several of these rules do not apply to NLS as if it were a company listed in Switzerland. In particular, the Swiss rules under the Swiss Financial Market Infrastructure Act on disclosure of shareholdings and the tender offer rules under the Swiss Financial Market Infrastructure Act, including mandatory tender offer requirements and regulations regarding voluntary tender offers, which are typically available in relation to Swiss -listedcompanies, do not apply to NLS because it is not listed in Switzerland. Borrowing Powers Neither Swiss law nor our articles of association restrict in any way our power to borrow and raise funds. The decision to borrow funds is made by or under the direction of our NLS Board, and no approval by the shareholders is required in relation to any such borrowing. Debt Securities Not applicable. Warrants and Rights The Company has warrants that are registered under Section 12 of the Securities Exchange Act of 1934, as amended. The Company issued 131,629 of such warrants