Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 73

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 73
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 Proposal No. 14 to approve the conversion of outstanding options and RSUs issued by Kadimastem. Q.What will happen in the Merger? At the Effective Time, each: •Kadimastem Ordinary Share issued and outstanding immediately prior to the Effective Time will be exchanged for the right to receive a number of newly issued, fully paid and nonassessable NLS Common Shares equal to the Exchange Ratio; •option, restricted share unit, or RSU, restricted share, warrant or other rights issued and outstanding, whether vested or unvested, to purchase Kadimastem Ordinary Shares shall be assumed by NLS and converted into an option, warrant, other award, or right, as applicable, to purchase NLS Common Shares in accordance with the terms of the Merger Agreement; and •each NLS Common Share issued and outstanding immediately prior to the Effective Time, and each NLS Common Share acquirable upon the exercise of outstanding warrants of NLS, shall continue to remain outstanding and, in addition, be entitled to a contingent value right, or CVR, pursuant to the terms of the Merger Agreement and the CVR Agreement. In addition, several convertible loans issued by Kadimastem will be converted into equity securities of Kadimastem before Closing, including (1) a loan to Kadimastem from Alpha Capital Anstalt, or Alpha, in the amount of $1.2 million; and (2) a loan from Michel Revel in the amount of NIS 4.4 million. Under the Merger Agreement, any shareholder receiving NLS Common Shares in excess of a 9.99% beneficial ownership limitation as a result of the Merger, shall be issued instead pre -fundedwarrants exercisable for a number of NLS Common Shares equal to such NLS Common Shares in excess of the beneficial ownership limitation, at an exercise price equal to the par value of the NLS Common Shares as of the Effective Time, which, in any event, shall be no less than CHF 0.0001 per share. The Merger Agreement and the consummation of the transactions contemplated thereby have been approved by the NLS Board, and Kadimastem Board and shareholders, and the NLS Board has resolved, subject to customary exceptions, to recommend that the shareholders of NLS approve the Merger Agreement and the transactions contemplated therein. In connection with the Closing, NLS’s officers (other than Mr. Konofal who shall remain in a part