Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 94

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 94
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 other neurodegenerative indications. AstroRx ®is comprised of fully differentiated astrocytes, which are mainly cells that support the CNS. 2.IsletRx is Kadimastem’s treatment for diabetes is currently in preclinical development. IsletRx is comprised of functional, insulin and glucagon producing and releasing pancreatic islet cells, intended to treat and potentially cure patients with Type 1 diabetes and possibly Type 2 insulin dependent diabetes. The IsletRx development program includes three programs in various preclinical development stages; iTOL -102(Pre -IND), Encap -IsletRx(INTERACT) and In -Scaffold-IsletRx(early development). Kadimastem was founded by Professor Michel Revel, Chief Scientific Officer of Kadimastem and Professor Emeritus of Molecular Genetics at the Weizmann Institute of Science. Professor Revel received the Israel Prize for the invention and development of Rebif ®, a multiple sclerosis blockbuster drug sold worldwide. Kadimastem is currently listed on the TASE (TASE: KDST). Kadimastem’s principal offices are located at Pinchas Sapir3, Weizmann Science Park, Ness -Ziona, Israel. General Description of the Merger and the Merger Agreement (Pages 126 and 144) The terms and conditions of the Merger are contained in the Merger Agreement, a copy of which is attached as Annex A to this proxy statement/prospectus. You are encouraged to read the Merger Agreement carefully and in its entirety, as it is the primary legal document that governs the Merger. Pursuant to the Merger Agreement: (i) Merger Sub will merge with and into Kadimastem, with Kadimastem as the surviving company, and (ii) at the Effective Time, each issued and outstanding Kadimastem Ordinary Share will be exchanged for and automatically converted into the right to receive from NLS that certain number of fully paid and nonassessable NLS Common Shares as calculated in accordance with the terms of the Merger Agreement. The Exchange Ratio will be determined based on a formula that is expected to result in the Initial Split, subject to the adjustments as set forth in the Merger Agreement, including: (i) the Investment Proceeds Adjustment, (ii) the amount by which NLS’s estimate of its cash at the Measurement Date differs from the target of $600,000, subject to the Investment Proceeds Adjustment, (iii) the amount by which NLS’s estimate