Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 176

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 176
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 by the NLS Board, but are instead only permitted to seek damages from the NLS Board for breaches of fiduciary duty. As a matter of Swiss law, shareholder claims against an NLS Board member for breach of fiduciary duty would have to be brought to the competent courts at the registered office of NLS, currently in Zurich, Switzerland. In addition, pursuant to Swiss law, any claims by its shareholders against NLS must be brought exclusively to the competent courts at the registered office of NLS, currently in Zurich, Switzerland. U.S. -styleclass actions and derivative actions are not available under Swiss law. A further summary of applicable Swiss corporate law is included in this proxy statement/prospectus, please see the sections entitled “ Description of NLS Securities” and “ Comparison of Shareholders’ Rights and Corporate Governance.” There can be no assurance that Swiss law will not change in the future, which could adversely affect the rights of our shareholders, or that Swiss law will protect NLS shareholders in a similar fashion as under U.S. corporate law principles. The registration of share capital increases or decreases in the commercial register may be blocked and the shareholders’ resolutions regarding the ordinary or conditional share capital increases or the introduction of a share capital increase by means of a capital band may be challenged. Immediately prior to the completion of the Merger, NLS shareholders will approve an ordinary share capital increase as well as a share capital decrease by reduction of the par value of the NLS Common Shares and the introduction of a capital band as well as conditional share capital. The execution of the share capital increase and decrease by the NLS Board and the related filings are a condition to the completion of the Merger. As with all share capital increases and decreases in Switzerland, the corresponding shareholders’ resolutions may be challenged in court within two months after such shareholders’ meeting and/or the registration of the capital increases or decreases in the commercial register and may be blocked temporarily by a preliminary injunction or permanently by order of a competent court. Either action would prevent or delay the completion of the Merger. The NLS Common Shares are not listed in Switzerland, NLS’s home jurisdiction. As a result, the Swiss takeover regime does not apply. Since the NLS Common Shares are listed exclusively on the Nasdaq, the Swiss takeover regime does not apply to NLS Pharmaceutics. That means that a shareholder crossing the 33 1/3% threshold is under no obligation to submit a mandatory offer to all other shareholders. 57 NLS’s Common Shares are