Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 365

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 365
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 net assets of NLS, including goodwill and other identifiable intangible assets of NLS will be recorded based upon their fair values at time of closing. The estimated fair value of the purchase price consideration will be based upon the number of NLS Shares expected to be outstanding at the time of the Business Combination along with the market price of NLS’s common stock on the date. As of March27, 2025, NLS’s Common Shares and NLS Common Shares underlying outstandings Preferred Shares, options and warrants are 7,664,722shares and based upon a $1.53 closing price of NLS’s common stock the pre -liminarypurchase price consideration is approximately $11,727,025million. The market price of NLS Common Stock has been deemed to be more reliably measurable than the value of the Kadimastem’s equity interests because, prior to the Closing, Kadimastem is traded on Tel -AvivStock Exchange (the “ TASE”) which is not considered as reliable as the Nasdaq stock exchange which is where NLS securities are traded.

201

BENEFICIAL OWNERSHIP OF SECURITIES Security Ownership of Certain Beneficial Owners and Management of NLS before the Merger The following tables sets forth information regarding the beneficial ownership of NLS Common Shares as of March28, 2025 by: •each person known by NLS to be the beneficial owner of 5% or more of NLS’s outstanding Common Shares before the consummation of the Merger; •each of its executive officers and directors; •all of its executive officers and directors as a group. Unless otherwise indicated, NLS believes that all persons named in the table will have, immediately before the consummation of the Merger, sole voting and investment power with respect to all NLS’s securities beneficially owned by them. Subject to the paragraph above, percentage ownership of issued shares is based on 3,597,641 NLS Common Shares issued and outstanding as of March28, 2025.

| Name and Address of Beneficial Owner  |     | NLS Common Shares |     |      |     | Voting 
 Power  
 (%)    |
| Number(1)                             |     |                 % |     |      |     |        |
| Executive Officers and Directors      |     |                   |     |      |     |        |
| Ronald Hafner(2)                      |     |           556,676 |     | 15.0 |     |        |