Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 304

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 304
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 the terms of the NLS Voting Agreement. Regular meetings by phone call and video conference took place during this period, some of which included the parties’ respective legal counsel and financial advisors. On September22, 2024, Pearl Cohen sent the initial draft of the Kadimastem Voting Agreement to Sullivan. Between September22, 2024 and November4, 2024, Sullivan and Pearl Cohen exchanged drafts and negotiated the terms of the Kadimastem Voting Agreement. Regular meetings by phone call and video conference took place during this period, some of which included the parties’ respective legal counsel and financial advisors. On September23, 2024, Pearl Cohen sent a revised draft of the Merger Agreement to Sullivan, which included comments regarding the equity awards and warrants. The parties agreed to transfer all the Kadimastem equity awards to NLS, and between September23, 2024 and November4, 2024, Sullivan and Pearl Cohen exchanged drafts and negotiated further the equity awards provisions in the Merger Agreement. On September25, 2024, NLS, Kadimastem and Donohoe Advisors had a call to discuss the Nasdaq compliance of the combined company. On November4, 2024, the parties executed the Merger Agreement and the applicable ancillary documents, and the Company issued a press release announcing the transaction. On December22, 2024, the Kadimastem Board was presented with the valuation reports and fairness opinion prepared by Moore. 132 NLS Board of Directors’ Reasons for the Merger During the course of its evaluation of the Merger Agreement and the transactions contemplated by the Merger Agreement, the NLS Board held numerous meetings, consulted with executive officers, legal counsel, and financial advisors, and reviewed and assessed a significant amount of information. In reaching its decision to approve the Merger Agreement and the transactions contemplated by the Merger Agreement, the NLS Board took into account information presented during the process and considered the following factors that it viewed as supporting its decision to approve the Merger Agreement: Strategic Considerations •Advantages •Complementary Strengths: The Merger enables the combined company to integrate its diverse expertise, technologies, and product pipelines, leading to more holistic solutions in its target market. Specifically: •Technology & R&D Synergies: NLS and Kadimastem bring together distinct but complementary research capabilities, accelerating innovation and increasing the potential for breakthrough developments. •Product Portfolio Expansion: The Merger aligns differentiated but synergistic offerings, allowing for