Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 69

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 69
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 as set forth in the Merger Agreement, including, among other things, in the event of the failure of NLS or Kadimastem to satisfy certain closing conditions, including, without limitation, those closing conditions set forth above; provided, however, that in the event that the Closing Indebtedness (as defined in the Merger Agreement) is greater than $0 and/or the Closing Cash (as defined in the Merger Agreement) is less than $600,000, the resulting number of Company NLS Common Shares issued as Merger Consideration (as defined in the Merger Agreement) shall not exceed the product of (i) the number of Company NLS Common Shares issued as Merger Consideration in accordance with the Exchange Ratio assuming that the Closing Indebtedness is $0 and the Closing Cash is $600,000 multiplied by (ii) 1.2. Under the Merger Agreement, any shareholder receiving NLS Common Shares in excess of a 9.99% beneficial ownership limitation as a result of the Merger, shall be issued instead pre -fundedwarrants exercisable for a number of NLS Common Shares equal to such NLS Common Shares in excess of the beneficial ownership limitation, at an exercise price equal to the par value of the NLS Common Shares as of the Effective Time, which, in any event, shall be no less than CHF 0.0001 per share. 3 Expected Timing of the Merger (Page 126) The Closing is expected to take place (i) no later than the second business day following the satisfaction or waiver of the conditions described below under the section titled “ Conditions to the Consummation of the Merger” on page 125 of this proxy statement/prospectus, or (ii) on such other date as agreed to by the parties to the Merger Agreement in writing, in each case, subject to the satisfaction or waiver of the closing conditions. The Merger Agreement may be terminated by NLS and/or Kadimastem if the Closing has not occurred by April30, 2025. NLS and Kadimastem anticipate that the consummation of the Merger will occur in the second quarter of 2025. However, because the Merger is subject to a number of conditions, neither NLS nor Kadimastem can predict exactly when the Closing will occur or if it will occur at all. For a description of the conditions to the completion of the Merger, see the section titled “ Conditions