Company: NCEL
Filing Date: 2025-10-24
Form Type: POS AM
Source: 0001213900-25-102149
Chunk: 22

Company: NewcelX Ltd.
Filing Date: 2025-10-24
Form: POS AM
Chunk 22
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 all terms and conditions of the exchange agreement entered by and 
 between the Company and the Exchange Agent, shall remain in full force and effect; and                  |

| ● | NLS shall have submitted the required Nasdaq notifications in accordance with Nasdaq rules and Nasdaq                                 
 shall not have objected to such notifications on or prior to the Closing Date, as well as the notifications to any Swiss regulator as 
 are required for the consummation of the Merger and issuance of the Merger Consideration.                                             |

<div align='center'>9</div>

Unless waived by NLS, the obligations of NLS and Merger Sub to consummate the Merger are subject to the satisfaction of the following additional conditions, in addition to customary certificates and other closing deliverables:

| ● | the representations and warranties of Kadimastem shall be true and correct as of the Closing (subject 
 to Material Adverse Effect);                                                                          |

| ● | Kadimastem shall have performed in all material respects its obligations and complied in all material                                   
 respects with its covenants and agreements under the Merger Agreement required to be performed or complied with on or prior to the date 
 of the Closing;                                                                                                                         |

| ● | the absence of any Material Adverse Effect with respect to Kadimastem, taken as a whole, since the date 
 of the Merger Agreement which is continuing and uncured;                                                |

| ● | the D&O Run Off Policy shall be in effect; |

| ● | a favorable tax ruling from the Federal tax authority shall have been obtained confirming that the stamp 
 duty tax is triggered by the Merger Agreement;                                                           |

| ● | Kadimastem shall have in gross funds (including cash in any of its bank accounts) an amount equal to at                                          
 least $3,500,000, subject to adjustment based on the proceeds received by NLS from certain parties in connection with its financing transactions 
 undertaken after the execution of the Merger Agreement;                                                                                          |

| ● | Kadimastem satisfied the Investment Proceeds Adjustment and 
 will therefore not be required to have cash at Closing;     |

| ● | Kadimastem shall have received tax rulings in form and substance reasonably acceptable to NLS; and |

| ● | Kadimastem shall have provided evidence reasonably satisfactory to NLS that Kadimastem Ordinary Shares 
 shall have been delisted from the Tel Aviv Stock Exchange effective as of the Effective Time.          |

The Closing is expected to take place (i)