Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 49

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 49
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 be the respective ownership percentages? The CVRs will not represent any equity or ownership interest in NLS or in any constituent company to the Merger. Q.Is the CVR payment secured or guaranteed? The CVR payment is neither secured nor guaranteed. Notwithstanding anything to the contrary, the CVR Agreement shall only become effective as of, and contingent upon, the Closing and shall be void ab initio and of no effect upon the valid termination of the Merger Agreement, if signed prior to the Closing. Even if the Merger is completed, there is no guarantee that any proceeds will be paid to NLS shareholders under the CVR Agreement. Payment of the CVRs is contingent upon the sale of the Legacy Assets. Pursuant to the CVR Agreement, NLS is also entitled to abandon the planned sale of the Legacy Assets in accordance with the terms and conditions of the Merger Agreement, after which the holders of the CVRs will not be entitled to any kind payment under the CVR Agreement. If the divested business generates negative cash flow and/or profitability at the end of any fiscal quarter (except for intellectual property maintenance costs of up to $100,000 per calendar year), the combined company will have the right to cease the sale process of the divested business and take any action regarding it as deemed appropriate. The rights of the holders and the obligations of NLS are contract rights limited to those expressly set forth in the Merger Agreement and the CVR Agreement, and such holders’ sole right to receive property thereunder is the right to receive cash received from the sale of the Legacy Assets, if any, through the Rights Agent in accordance with the terms of the Merger Agreement and the CVR Agreement. For a more detailed description, see “ Risk Factors — Risks Related to the Merger,”and “Certain related Agreements — CVR Agreement.” Q.Can I sell the CVRs? No. The CVRs cannot be sold or transferred other than through a permitted transfer. For a more complete description of the transferability of the CVRs, please see the section entitled “ Certain Related Agreements — CVR Agreement” in this proxy statement/prospectus. Q.Who will be the directors of NLS following the Merger? At and immediately after the Effective Time of the Merger, subject to the approval of NLS shareholders, the NLS Board is expected to be composed of the individuals set forth in the table below. The directors shall serve until their respective successors are duly elected or appointed and qualified or their earlier death