Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 43

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 43
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 its trade and vendor payables, and all of its debts to its officers, directors and shareholders. The Merger Agreement requires NLS to have at least $600,000 in cash at the Closing and requires Kadimastem to have at least $3,500,000 in cash at the Closing, in each case subject to adjustments as set forth in the Merger Agreement. Based on the proceeds received by NLS in connection with its financing transactions undertaken after the execution of the Merger Agreement, and in accordance with the adjustments as set forth in the Merger Agreement, the parties expect that Kadimastem will be required to have approximately $300,000 in cash at the Closing. Neither NLS nor Kadimastem is required to make any filings or obtain any approvals or clearances from any antitrust regulatory authorities in the United States or other countries to consummate the Merger. In the United States, NLS must comply with applicable federal and state securities laws and Nasdaq rules and regulations in connection with the issuance of the shares in connection with the Merger, including the filing with the SEC of this proxy state ment/prospectus. In addition, in connection with the Merger, Kadimastem is in the process of obtaining a 103K Tax Ruling, from the tax authorities in Israel; both NLS and Kadimastem are required to comply with the provisions thereunder. In Switzerland the merger compensation shares must be registered with the Commercial Register of Zurich prior to the Closing. For a more complete description of the closing conditions under the Merger Agreement, please see the section entitled “ Conditions to the Consummation of the Merger” beginning on page 125 of this proxy statement/prospectus. Q.What is the anticipated liquidity position of the combined company following the Merger? NLS and Kadimastem believe that the combined liquidity at Closing on a consolidated basis will be approximately $6.5million, with a combined amount of debt equal to approximately $1.0million. NLS performed a debt to equity conversion on October15, 2024 and is free of past liabilities, except for current working capital needs. NLS believes that as of the Closing it will have sufficient funds to commence Kadimastem’s Phase IIa trial for amyotrophic lateral sclerosis, or ALS. Kadimastem estimates that the financing requirements of the Phase IIa trial will be between $10.0million and $15.0million. Following the Merger, the combined company intends to