Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 248

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 248
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 harm Kadimastem’s interests; (b) Breach of the duty of care performed intentionally or recklessly, excluding cases of negligence; (c) Acts performed with the intent to derive unlawful personal gain; (d) Fines, civil penalties, monetary sanctions, or ransom payments imposed on the officeholder. |     | Under Swiss law, fundamental legal principles require companies to indemnify their employees for expenses and losses incurred in the normal course of their duties. However, indemnification for directors and officeholders is not permissible under Swiss law in cases where the damage resulted from intentional misconduct or gross negligence (or according to some views negligence). |

NLS is a foreign private issuer and, as such, is eligible for an exemption from certain Nasdaq corporate governance requirements that apply to issuers that are not foreign private issuers. See “ Item 16G. Differences between Swiss Laws and Nasdaq Requirements” in NLS’s Annual Report on Form 20 -Ffor the year ended December31, 2023, which is attached to this document as Annex H and is incorporated by reference into this proxy statement/prospectus. For more information regarding material differences in the corporate laws applying to Kadimastem and those applying to the combined company post -Merger, please see “ Comparison of Shareholders’ Rights and Corporate Governance” in this proxy statement/prospectus.

122 Conditions to Closing The Merger Agreement requires the parties to consummate the Merger after all of the conditions to the consummation of the Merger contained in the Merger Agreement are satisfied or waived. Such conditions include: The following mutual conditions of the parties unless waived: •the Merger Agreement and the Merger shall have been approved and adopted by the shareholders of NLS, Kadimastem and Merger Sub; •receipt of requisite consents from governmental authorities to consummate the Transactions, and receipt of specified requisite consents from other third parties to consummate the Transactions; •the absence of any law or order that would prohibit the consummation of the Merger or other transactions contemplated by the Merger Agreement; •the effectiveness of the Proxy Statement, and, if applicable, the registration statement shall have been declared effective by the SEC; •the Boards and the board of directors of each Kadimastem shall have received a fairness opinion relating to the Merger in form reasonably satisfactory to such respective boards; •the parties shall have made all the Required Filings; •NLS shall have taken all necessary actions to effectuate a reverse stock split