Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 47

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 47
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 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 -timeposition with NLS) and members of the NLS Board as of the Effective Time will resign and it is anticipated that Kadimastem’s executive officers and members of the Kadimastem Board as of the Effective Time will become NLS’s executive officers and members of the NLS Board, provided, however, that Mr. Alexander Zwyer shall not resign as a member of the NLS Board at the Effective Time and shall remain as a member of the NLS Board and, from the date of the Closing, until the date that is one year after the date of the Closing, the combined company shall not take any action to remove, or recommend the removal of Mr.Zwyer from the combined company’s board of directors without cause, and shall nominate for election and continue to recommend to its shareholders that Mr.Zwyer be elected to serve as a director of the combined company. As a condition to his continued service and re -appointment, Mr.Zwyer shall tender an irrevocable resignation letter effective upon the lapse of one year from the date of the Closing, subject to acceptance of his resignation by the NLS Board. Q.What are the CVRs? Prior to the Closing, NLS will enter into the CVR Agreement with VStock Transfer, LLC, or the Rights Agent, which will govern the terms of the CVRs. The CVRs are contingent value rights that will be issued by NLS to the record holders of the outstanding