Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 333

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 333
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position with NLS) and members of the NLS Board will resign as of the Effective Time, and it is anticipated that Kadimastem’s executive officers and members of its board of directors as of the Effective Time will become NLS’s executive officers and members of the NLS Board. For more information regarding the directors and executive officers of NLS following the Merger, please see the section entitled “ Directors And Executive Officers Of NLS Following The Merger” in this proxy statement/prospectus. Pursuant to the Merger Agreement, no later than 90 days after the Closing, NLS shall make all necessary preparations for the sale of the Legacy Assets and appoint a Board sub -committee, or the Legacy Sub -Committee, consisting of at least three (3) members of the NLS Board, which such sub -committeeshall include the designated director identified by Mr. Zwyer, to oversee, market, manage, direct, negotiate, and take all other actions reasonably necessary to dispose the Legacy Assets and liabilities of NLS as of the Effective Time, or the Legacy Sale. The Legacy Sub -Committeeshall use best commercial efforts to consummate the Legacy Sale within 12 months following the Closing. The proceeds of any Legacy Sale, net of (i) all costs and expenses incurred or to be incurred by NLS or any of its Subsidiaries in connection with such sale, (ii) all reasonable, documented costs of NLS or its Subsidiaries in maintaining the Legacy Assets during the period between the Closing and the consummation of the Legacy Sale, and (iii) the settlement of any liabilities related to the Legacy Assets, shall be distributed to the shareholders and warrant holders of NLS as of immediately prior to the Effective Time, pro -ratain accordance with their CVRs, in accordance with the terms and conditions of the CVR Agreement. The Legacy Sub -Committeeby majority vote may, upon its unanimous finding that the out -of-pocketexpenditures by NLS 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 in the Merger Agreement, unless NLS 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