Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 313

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 313
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 without further action of the parties, shall be deemed covered shares and subject to the provisions of the Support Agreement. CVR Agreement Prior to the Closing, NLS will enter into the CVR Agreement with the Rights Agent, which will govern the terms of the CVRs. Each CVR will represent the right to additional payments based on the proceeds, subject to certain adjustments, received by NLS from the disposition of the Legacy Assets. Pursuant to the Merger Agreement, NLS shall create and issue CVRs relating to the CVR Agreement to the record holders of the outstanding NLS Common Shares as of immediately prior to the Effective Time and to the holders of the outstanding warrants of NLS as of immediately prior to the Effective Time to the same extent as if such holders of NLS warrants had held the number of NLS Common Shares acquirable upon complete exercise of such warrants. The record holders of the outstanding NLS Common Shares as of immediately prior to the Effective Time and the holders of the outstanding warrants of NLS as of immediately prior to the Effective Time are referred to herein, collectively, as the Holders. CVRs shall be issued and distributed by NLS in the form of a dividend, in connection with the Merger, to each Holder. Notwithstanding anything to the contrary, the CVR Agreement shall only become effective as of, and contingent upon, the Closing and shall be void ab initio and of no effect upon the valid termination of the Merger Agreement, if signed prior to the Closing. One CVR will be issued with respect to each NLS Common Share issued and outstanding as of immediately prior to the Effective Time and each NLS Common Share that may be acquired upon the exercise of the outstanding warrants of NLS as of immediately prior to the Effective Time. The CVRs shall not be sold, assigned, transferred, pledged, encumbered or in any other manner transferred or disposed of, in whole or in part, other than set forth in the CVR Agreement. Any purported transfer of a CVR other than permitted transfer as set forth in the CVR Agreement will be null and void ab initio. Pursuant to the CVR Agreement, a “permitted transfer” means, with respect to any Holder, a transfer of one or more of a Holder’s CVRs to (i) a Holder’s immediate family member (spouse, child or parent), (ii) one or more trusts established in whole or in part for the benefit of a Holder, (iii) one or more entities that are controlled