Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 287

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 287
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. On July 2, 2024, members of management of NLS and Kadimastem had an introductory call to discuss a potential merger transaction. Throughout all of the month of July 2024, the management teams of NLS and Kadimastem had intensive discussions to outline a potential strategic transaction. The management teams of NLS and Kadimastem discussed potential merger transactions and the desirability of proceeding with a combination of NLS and Kadimastem. At the end of July 2024, each of the management teams of NLS and Kadimastem confirmed their desire to negotiate the terms of a potential transaction. On July 16, 2024, NLS considered a potential business combination transaction with Party A, a Canadian private biotech company, focusing on viral infections. Party A contacted Mr.Zwyer, Chief Executive Officer of NLS directly and on July 19, 2024, NLS received a draft non -bindingletter of intent from Party A. However, as NLS was already in advanced discussions with Kadimastem at the time when NLS began discussions with Party A and since Kadimastem’s offer was significantly more attractive than the offer from Party A and the timing to get to a binding term sheet was considered much quicker with Kadimastem, NLS determined to focus on its discussions with Kadimastem. On July 26, 2024, NLS informed Party A that NLS did not intend to pursue the potential business combination transaction for commercial reasons being that the offer NLS received from Kadimastem was between 3 and 4 times higher with respect to the exchange ratio compared to the offer from Party A, and given that negotiations between NLS and Kadimastem were much more advanced. Therefore, the NLS Board determined it was more likely to be successful with Kadimastem as NLS was facing a potential Nasdaq delisting in October 2024. Representatives from both NLS and Kadimastem were actively involved in the negotiations, meetings, and correspondence related to the Merger. On behalf of NLS, the Chairman of the Board, Alexander Zwyer, Eric Konofal, Elena Thyen, Sullivan and Pascal Honold from Wenger Vieli Ltd. participated in these discussions. Kadimastem was represented by its Executive Chairman and Chief Executive Officer, Ronen Twito, Chief Financial Officer, Uri Ben Or, Chief Scientific Officer, Professor Michel Revel, M.D,VP of R