Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 151

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 151
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 comply with certain continued listing standards of Nasdaq including those regarding minimum shareholders’ equity, minimum share price, minimum market value of publicly held shares, minimum number of shareholders and various additional requirements. Even if NLS 54 initially meets the listing requirements and other applicable rules of Nasdaq, NLS may not be able to continue to satisfy these requirements and applicable rules. If NLS is unable to satisfy Nasdaq criteria for maintaining its listing, its securities could be subject to delisting. If Nasdaq does not list NLS’s securities, or subsequently delists its securities from trading, NLS could face significant consequences, including: •failure to satisfy a closing condition to the Merger and the inability to therefore complete the Merger; •a limited availability for market quotations for its securities; •reduced liquidity with respect to its securities; •a determination that its NLS Common Shares are “penny stock,” which will require brokers trading in its NLS Common Shares to adhere to more stringent rules and possibly result in a reduced level of trading activity in the secondary trading market for the NLS Common Shares; •limited amount of news and analyst coverage; and •a decreased ability to issue additional securities or obtain additional financing in the future. Failure to comply with Nasdaq rules, the delisting of NLS’s securities from Nasdaq or the inability to complete the Merger could materially adversely affect the business, financial results and share price of NLS. Following the closing of the Merger, NLS may lose its foreign private issuer status, which would then require it to comply with the domestic reporting requirements of the Exchange Act, and cause it to incur significant legal, accounting and other expenses. In order to maintain NLS’s status after the completion of the Merger as a foreign private issuer, either (i) a majority of its ordinary shares must be either directly or indirectly owned of record by non -residentsof the United States; or (ii) (a) a majority of its executive officers or directors may not be United States citizens or residents, (b) more than 50% of its assets cannot be located in the United States and (c) its business must be administered principally outside the United States. If it lost this status, it would be required to comply with the Exchange Act reporting and other requirements applicable to U.S. domestic issuers, which are more detailed and extensive than the requirements for foreign private issuers. Among other things, NLS would be required under current SEC rules to prepare its financial statements in accordance with generally