Company: NCEL
Filing Date: 2025-06-06
Form Type: 425
Source: 0001213900-25-052102
Chunk: 5

Company: NewcelX Ltd.
Filing Date: 2025-06-06
Form: 425
Chunk 5
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2. . Section 2.1.3(a) of the Agreement shall be amended in its entirety to read as follows:

“(a) Reserved.”

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3. . Section 2.1.3(b) of the Agreement shall be amended in its entirety to read as follows:

“(b) Not later than
three (3) Business Days prior to the Closing Date, Parent shall deliver to the Company a statement certified by Parent’s chief executive
officer (the “Parent Estimated Closing Statement”) setting forth (a) a good faith calculation of Parent’s estimate
of the Closing Indebtedness as of the Reference Time, along with reasonably detailed calculations thereof, (b) a good faith calculation
of Parent’s estimate of the Closing Cash as of the Reference Time, along with reasonably detailed calculations thereof, (c) a good
faith calculation of Parent’s estimate of the Parent Adjusted Cash Amount, and (d) the resulting estimated Merger Consideration
to be issued by Parent at the Closing using the Exchange Ratio, based on such estimates of Closing Indebtedness, Closing Cash, and Parent
Adjusted Cash Amount, which Parent Estimated Closing Statement shall be subject to the review and the reasonable approval by the Company.”

4. . Section 5.14.2 of the Agreement shall be amended in its entirety to read as follows:

“5.14.2 The
Legacy Sub-Committee by majority vote may, upon its unanimous finding that the out-of-pocket expenditures by Parent related to maintaining
the Intellectual Property rights associated with the Legacy Assets, beginning with the Effective Date, has exceeded $100,000, abandon
attempts to consummate the Legacy Sale and instead dispose of the Legacy Assets in a manner that it deems appropriate and expedient. Notwithstanding
anything to the contrary contained herein, unless Parent has entered into a binding term sheet or a definitive agreement, in either case
with respect to the sale of the Legacy Assets, or unless otherwise determined by the board of directors of Parent, Parent shall, beginning
on the one-year anniversary of the Closing Date, abandon attempts to consummate the Legacy Sale and instead dispose of the Legacy Assets
in a manner that it deems appropriate and expedient.”

5. . Section 6.2.7 of the Agreement shall be amended in its entirety to read as follows:

“At the Effective Time, Parent shall have
at least USD $600,000 in gross funds (including cash in any of its