Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 303

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 303
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 term sheet further provided that upon completion of the Merger, which is subject to, among other things, approval by NLS’s and Kadimastem’s shareholders, the combined company is expected to be traded on Nasdaq, and that existing Kadimastem shareholders will hold 85% of the issued and outstanding NLS Common Shares after the Merger and the existing shareholders of NLS will hold the remaining 15% of the issued and outstanding NLS Common Shares after the Merger. On August7, 2024, Pearl Cohen, sent the initial draft of the Merger Agreement to Sullivan. Between August17, 2024 and November4, 2024, Sullivan and Pearl Cohen exchanged drafts and negotiated the terms of the definitive transaction agreements, including the Merger Agreement. Regular meetings by phone call and video conference took place during this period, some of which included the parties’ respective legal counsel and financial advisors. The terms negotiated between the parties, among others, included the representations and warranties of both NLS and Kadimastem to be contained in the Merger Agreement, the tax rulings to be obtained before the closing and the interim covenants to be contained in the Merger Agreement, including regarding the solicitation of alternative transactions, and the Company’s ability to access capital. On August25, 2024, Sullivan sent a revised draft of the Merger Agreement to Pearl Cohen, which included comments regarding the representations and warranties, post -closingboard of directors, and the proposed exchange ratio. The parties initially agreed to confirm the representations and warranties for both parties. Between August25, 2024 and September13, 2024, Sullivan and Pearl Cohen exchanged drafts and negotiated further the aforementioned terms of the Merger Agreement. On August29, 2024, Pearl Cohen sent the initial draft of the CVR Agreement to Sullivan. Between August29, 2024 and November4, 2024, Sullivan and Pearl Cohen exchanged drafts and negotiated the terms of the CVR Agreement. Regular meetings by phone call and video conference took place during this period, some of which included the parties’ respective legal counsel and financial advisors. The terms negotiated between the parties, among others, included the responsibilities of the rights agent, mechanics of the distribution, and term of the CVR Agreement. On September17, 2024, Sullivan sent the initial draft of the NLS Voting Agreement to Pearl Cohen. Between September17, 2024 and November4, 2024, Sullivan and Pearl Cohen exchanged drafts and negotiated