Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 316

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 316
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 85% of all issued and outstanding shares; provided further, however, that in the event that the result of the Measurement Date Cash minus the Measurement Date Indebtedness is more than $600,000, the resulting number of NLS Common Shares issued 144 as Merger Consideration will be less than the target 85% of all issued and outstanding shares. No fractional NLS Common Shares will be issued in connection with the Merger, and no certificates or scrip for any such fractional shares will be issued. All fractional share amounts shall be rounded down to the nearest whole based on the total number of NLS Common Shares to be issued to the holders of Kadimastem Ordinary Shares who would otherwise be entitled to receive a fraction of NLS Common Share. 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. The Exchange Ratio will be determined based on a formula that is expected to result in the Initial Split, subject to the adjustments as set forth in the Merger Agreement, including: (i) the Investment Proceeds Adjustment, (ii) the amount by which NLS’s estimate of its cash at the Measurement Date differs from the target of $600,000, subject to the Investment Proceeds Adjustment, (iii) the amount by which NLS’s estimate of its indebtedness at the Measurement Date differs from the target of $0, (iv) valuation of NLS based on the product of (a) the closing price per share of the NLS Common Shares on the principal market or exchange on which the NLS Common Shares are traded on the Measurement Date multiplied by (b) the fully diluted NLS Common Shares outstanding as of the Measurement Date, and (v) the valuation of the combined company based on the quotient obtained by dividing (a) the NLS Valuation by (b) 0.15, which such valuation reflects the 15% target ratio share split. Based on various factors, including gross cash proceeds from NLS’s financing transactions from October 2024 through June 2025 (approximately $