Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 290

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 290
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 Agreement, including: (i) the Investment Proceeds Adjustment, (ii) the amount by which NLS’s estimate of its cash at the Closing differs from the target of $600,000, subject to the Investment Proceeds Adjustment, (iii) the amount by which NLS’s estimate of its indebtedness at the Closing differs from the target of $0, (iv) valuation of NLS based on the product of (a) the closing price per share of the NLS Common Shares on the principal market or exchange on which the NLS Common Shares are traded on the trading date immediately preceding the Closing Date multiplied by (b) the fully diluted NLS Common Shares outstanding as of immediately prior to the Closing, and (v) the valuation of the combined company based on the quotient obtained by dividing (a) the NLS Valuation by (b) 0.15, which such valuation reflects the 15% basic ratio share split. Kadimastem satisfied the Investment Proceeds Adjustment and will therefore not be required to have cash at Closing. Exchange Procedures Pursuant to the terms of the Merger Agreement, prior to or at the Closing, NLS shall designate its transfer agent, or a depository, bank or trust company reasonably acceptable to NLS to act as the exchange agent in connection with the Merger, or the Exchange Agent, and enter into an exchange agreement, in a form reasonably acceptable to NLS, for the payment of the Merger Consideration. Prior to or substantially concurrently with the Effective Time, NLS shall deposit or cause to be deposited with the Exchange Agent, for the benefit of the holders of Kadimastem Ordinary Shares (excluding certain Kadimastem Ordinary Shares as set forth in the Merger Agreement in respect of which NLS Common Shares shall be issued directly to the trustee appointed by Kadimastem) for exchange in accordance with the terms and conditions of the Merger Agreement through the Exchange Agent, the full number of NLS Common Shares, which shall be in uncertificated book -entryform, issuable as Merger Consideration. A full description of the exchange procedures with respect to the Kadimastem Ordinary Shares, including as such procedures relate to Kadimastem Ordinary Shares that were issued under Section 102 of the Ordinance and any Kadimastem equity awards that are subject to tax pursuant to Section 102(c)(2) of the Ordinance, and the issuance of the Merger Consideration can be found in the Merger Agreement. In addition