Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 499

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 499
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 mostly from investors introduced to NLS by Kadimastem, which satisfy the Investment Proceeds Adjustment) (for more information please see “ NLS’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Financing Activities”), and additional financing investments of approximately $2.5million currently reasonably expected to be raised prior to the Closing Date, the parties currently estimate the fully diluted share split at the Closing will be approximately 83% to Kadimastem shareholders and 17% to NLS shareholders. The additional financing investments of approximately $2.5million to be raised prior to the Closing Date is not a condition to Closing; if more or less than $2.5million is raised, the Exchange Ratio will change accordingly pursuant to the terms of the Merger Agreement. The Merger Agreement and the consummation of the transactions contemplated thereby have been approved by the boards of directors of NLS and Kadimastem, and Kadimastem’s shareholders. The NLS Board has resolved, subject to customary exceptions, to recommend that the shareholders of NLS approve the Merger Agreement and the transactions contemplated therein. The parties expect the Merger to close in the third quarter of 2025, pending approval of NLS’s shareholders, as well as other customary closing conditions, including Nasdaq approval. The most recent financial information available for NLS for the twelve months December31, 2024, have been prepared in accordance with accounting principles generally accepted in the United States of America, or U.S. GAAP. Any reference in these notes to applicable guidance is meant to refer to the authoritative U.S. GAAP as found in the Accounting Standards Codification (“ASC”) and Accounting Standards Updates (“ASU”) of the Financial Accounting Standards Board (“FASB”). The most recent financial information available for Kadimastem Ltd. for the twelve months December31, 2024, have been prepared in accordance with International Financial Reporting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”). The unaudited pro forma condensed combined financial statements, were prepared in accordance with regulations of the Securities and Exchange Commission and with IFRS, as issued by the International Accounting Standards Board. The unaudited pro forma condensed combined financial statements combines the historical balance sheet and statement of operations for NLS and Kadimastem in order to show how the Merger might affect the historical financial statements if the transaction had been completed on December31, 2024 for the purposes of the balance sheets ended December31