Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 294

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 294
---
, NLS shortlisted a handful of companies for deeper evaluation, including non -confidentialdue diligence and strategic fit assessments. NLS eventually contemplated potential transactions with three prospective candidates: Party A, Party B and Kadimastem. On July 2, 2024, NLS considered a potential business combination transaction with Party B, a wholly -ownedsubsidiary of Vivasor, Inc., headquartered in San Diego, California. Party B is a pioneer in the field of Antibody Drug Conjugates. On July 10, 2024, Party B decided to move forward with another company. Party B was introduced by NLS’s financial advisor: Oded Spindel, Ph.D., MBA, the Senior Vice President of Investment Banking at HCW. On July 2, 2024, members of management of NLS and Kadimastem had an introductory call to discuss a potential merger transaction. Throughout all of the month of July 2024, the management teams of NLS and Kadimastem had intensive discussions to outline a potential strategic transaction. The management teams of NLS and Kadimastem discussed potential merger transactions and the desirability of proceeding with a combination of NLS and Kadimastem. At the end of July 2024, each of the management teams of NLS and Kadimastem confirmed their desire to negotiate the terms of a potential transaction. On July 16, 2024, NLS considered a potential business combination transaction with Party A, a Canadian private biotech company, focusing on viral infections. Party A contacted Mr.Zwyer, Chief Executive Officer of NLS directly and on July 19, 2024, NLS received a draft non -bindingletter of intent from Party A. However, as NLS was already in advanced discussions with Kadimastem at the time when NLS began discussions with Party A and since Kadimastem’s offer was significantly more attractive than the offer from Party A and the timing to get to a binding term sheet was considered much quicker with Kadimastem, NLS determined to focus on its discussions with Kadimastem. On July 26, 2024, NLS informed Party A that NLS did not intend to pursue the potential business combination transaction for commercial reasons being that the offer NLS received from Kadimastem was between 3 and 4 times higher with respect to the exchange ratio compared to the offer from Party A, and given that negotiations between NLS and