Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 263

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 263
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 specified range of two -for -one(2:1) to twenty -for -one(20:1) immediately before the NLS Meeting (rather than proposing a fixed reverse split ratio) provides the flexibility to achieve the desired results of the reverse split. In determining the range of proposed reverse split ratios, the NLS Board considered numerous factors, including: •the projected impact of the reverse split ratio on the trading liquidity in the NLS Common Shares and the Company’s ability to continue the listing of the NLS Common Share on Nasdaq; •the potential devaluation of the Company’s market capitalization as a result of a reverse split; •the historical and projected performance of the NLS Common Shares and volume level before and after the reverse split; •prevailing market conditions; •general economic and other related conditions prevailing in the Company’s industry and in the marketplace generally; •the Company’s capitalization (including the number of NLS Common Shares issued and outstanding); and •the prevailing trading prices for the NLS Common Shares and its trading volume. The NLS Board will consider the conditions, information and circumstances existing at the time when it determines the precise reverse share split ratio. The reverse split will be effected simultaneously for all issued and outstanding NLS Common Shares, Preferred Shares and PPCs. The reverse split will affect all shareholders uniformly and will not affect any shareholder’s percentage ownership interests in NLS, except to the extent that the reverse split results in any fractions, which will be rounded down and compensated in cash. After the reverse split, the NLS Common Shares will have the same proportional voting rights and rights to dividends and distributions and will be identical in all other respects to NLS Common Shares now authorized. The reverse split will not affect NLS continuing to be subject to the periodic reporting requirements of the Exchange Act. 109

The reverse split may result in some shareholders owning “odd -lots” of less than 100shares of NLS Common Shares. Brokerage commissions and other costs of transactions in odd -lotsare generally higher than the costs of transactions in “round -lots” of even multiples of 100shares. An additional principal effect of the reverse split would be to decrease the number of outstanding NLS Common Shares. Except for de minimis adjustments that may result from the treatment of fractional shares as described below, the reverse split will not have any dilutive effect on shareholders since each shareholder would hold the same percentage of NLS Common Shares outstanding immediately following the reverse split as such shareholder held immediately prior to the reverse