Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 115

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 115
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 all of its debts to its officers, directors and shareholders. The Merger Agreement requires NLS to have at least $600,000 in cash at the Closing and requires Kadimastem to have at least $3,500,000 in cash at the Closing, in each case subject to adjustments as set forth in the Merger Agreement. Based on the proceeds received by NLS in connection with its financing transactions undertaken after the executionofthe Merger Agreement,and in accordance with the adjustments as set forth in the Merger Agreement, Kadimastem satisfied the Investment Proceeds Adjustment and will therefore not be required to have cash at Closing. 15 The obligations of the parties to complete the Merger are subject to various additional conditions, including the conditions set forth herein under the section entitled “ The Merger Agreement — Conditions to the Consummation of the Merger.” Regulatory approvals (Page 150) Swiss law provides for certain rules and protections of shareholders of domestic listed companies. However, because the NLS Shares are listed exclusively on the Nasdaq, several of these rules do not apply to NLS as if it were a company listed in Switzerland. In particular, the Swiss rules under the Swiss Financial Market Infrastructure Act on disclosure of shareholdings and the tender offer rules under the Swiss Financial Market Infrastructure Act, including mandatory tender offer requirements and regulations regarding voluntary tender offers, which are typically available in relation to Swiss -listedcompanies, do not apply to NLS because it is not listed in Switzerland. In the United States, NLS must comply with applicable federal and state securities laws and the rules and regulations of Nasdaq in connection with the issuance of NLS Common Shares and the filing of this proxy statement/prospectus with the SEC. As a condition to Closing, the Merger Agreement sets forth that Kadimastem shall obtain a court approval for the Merger, under sections 350 and 351 of the Companies Law. According to the Companies Law, the required majority at a general meeting of shareholders to approve a merger as described is a majority of the number of voting participants, excluding abstainers, who hold at least three -quarters(3/4) of the voting power represented at such meeting, in accordance with Section 350(9) of the Companies Law. As part of the Merger, NLS Common Shares will be offered to Kadimastem’s shareholders. As such, it is plausible to conclude that NLS is making an offer to the public and is required to file a prospectus with the Israeli Securities Authority