Company: NCEL
Filing Date: 2025-06-06
Form Type: 425
Source: 0001213900-25-052102
Chunk: 4

Company: NewcelX Ltd.
Filing Date: 2025-06-06
Form: 425
Chunk 4
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 Reorganization (this “Amendment”) is made and entered into as of June 5, 2025, by and among Kadimastem
Ltd., an Israeli publicly traded company limited by shares (the “Company”), NLS Pharmaceutics Ltd., a corporation incorporated
under the laws of Switzerland (“Parent”), and NLS Pharmaceuticals (Israel) Ltd., an Israeli company (“Merger Sub”,
and together with the Company and Parent, the “Parties”). Capitalized terms used herein without definition shall have the
same definition ascribed thereto in the Agreement (as defined below).

WHEREAS, the Agreement
of Merger and Plan of Reorganization was made and entered into as of November 4, 2024, as amended as of January 30, 2025, as further amended
as of February 17, 2025, and as further amendment as of May 5, 2025, by and among the Company, Parent and Merger Sub (the “Agreement”);

WHEREAS, the Agreement
may be amended by an instrument in writing signed on behalf of the Parties thereto; and

WHEREAS, the Parties
desire to amend the Agreement as set forth below.

NOW, THEREFORE , in consideration
of the mutual promises contained in this Amendment and for other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the Parties hereby agree as follows:

1. . Section 2.1.0(a) of the Agreement shall be amended in its entirety to read as follows:

“(a) At the Effective
Time, by virtue of the Merger and without any further action by Parent, the Company, Merger Sub, or any of their respective shareholders,
each Ordinary Share of the Company, no par value, issued and outstanding immediately prior to the Effective Time (individually a “Share”
and collectively the “Shares”), other than Shares owned by the Company or its Subsidiaries (dormant or otherwise),
or by Parent or Merger Sub, if any, shall, by virtue of the Merger and without any action on the part of Merger Sub, the Company, or the
holders thereof, be exchanged for and converted into the right to receive a number of newly issued, fully paid and nonassessable shares
of Parent Common Stock equal to the Exchange Ratio, subject to Section 2.1.2 below (such shares of Parent Common Stock, the “Merger Consideration”) without interest