Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 348

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 348
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, if signed prior to the Closing. One CVR shall be issued to each Holder for each share of NLS Common Shares beneficially owned by such Holder as of immediately prior to the Effective Time, including (i) each NLS Common Share issuable upon conversion of any Preferred Shares (as defined in the CVR Agreement) and/or Preferred Certificates (as defined 163 in the CVR Agreement) held by such Holder and (ii) each NLS Common Share issuable upon exercise of any warrants and/or pre -fundedwarrants held by such Holder, in each case to the extent outstanding and held by such Holder 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 by a Holder in which control means ownership of at least 50% of the equity interests there and the right to appoint or elect a majority of the board of directors of such entity, or (iv) a corporate owning, owned by or under common ownership with such Holder. All costs and expenses related to any transfer of the VRS, including the cost of any transfer tax, will be the responsibility of the transferor. Upon the occurrence of sale or disposition of all or any part of the Legacy Assets (the CVR Transaction), and in any event within 30 days after the occurrence of the CVR Transaction, NLS will deliver to the Rights Agent a certificate certifying that the Holders are entitled to receive a corresponding CVR payment in cash of any CVR payment amount that sets forth, in reasonable detail, the calculation of the applicable CVR payment amount, together with reasonable supporting documentation for such calculation. Within 30 days after receipt of such certificate, the Rights Agent shall deliver to the Holders a copy of the certificate. NLS will, within 30 days following the date of such certificate