Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 299

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 299
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 with certain exceptions, and not to engage in variable rate transactions for one -yearpost -closing. The offering generated gross proceeds of $1,750,000. On June 28, 2024, we entered into a securities purchase agreement providing for the issuance in a registered direct offering of 81,944 common shares at a purchase price of $9.60 per share. In addition, the investors in the offering received unregistered warrants to purchase up to an aggregate of 81,944 common shares at an exercise of $9.60 per share in a concurrent private placement. The common warrants were immediately exercisable upon issuance and expire five years following the date of issuance. The agreement includes customary representations, warranties, and indemnification provisions. We agreed not to issue or announce the issuance of any common shares or equivalents for 15 days post -closing, with certain exceptions, and not to engage in variable rate transactions for one -yearpost -closing. The offering generated gross proceeds of approximately $786,660. Our financial statements have been presented on the basis that we are a going concern, which contemplates the realization of revenues and the satisfaction of liabilities in the normal course of business. We have incurred losses from the inception of our operations. These factors raise substantial doubt about our ability to continue as a going concern. In July 2024, we entered into a binding term sheet with Kadimastem, a clinical -stagecell therapy company developing and manufacturing “off -the-shelf” allogeneic cell products for the treatment of neurodegenerative diseases and potential cure of diabetes, whereby Kadimastem will become our wholly owned subsidiary, and Kadimastem’s shareholders will acquire an 85% interest in NLS, or the Transaction. Upon completion of the Transaction, which is subject to, among other things, approval by NLS and Kadimastem shareholders, the combined company is expected to operate under the name Kadimastem and be traded on the Nasdaq. Under the proposed terms, existing Kadimastem shareholders will hold 85% of the outstanding NLS Common Shares and the existing shareholders of NLS will hold the remaining 15% of the issued and outstanding NLS Common Shares. Based on the cash balance of NLS following its most recent financing transactions from October 2024 and December 2024 (for more information please see “ NLS’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Financing Activities” in this proxy statement/prospectus), the parties