Company: NCEL
Filing Date: 2025-03-03
Form Type: F-4/A
Source: 0001213900-25-018981
Chunk: 52

Company: NewcelX Ltd.
Filing Date: 2025-03-03
Form: F-4/A
Chunk 52
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 (3) years, with an exercised price equal to the market price at the Closing; and (2) will enter into indemnification agreements between NLS and members of the board of directors. Additionally, Prof. Michel Revel, MD, Director and Chief Scientific Officer of Kadimastem and the beneficial owner of 1,371,052shares of Kadimastem, and Ronen Twito, Executive Chairman and Chief Executive Officer, or CEO, of Kadimastem, and beneficial owner of 367,332 of Kadimastem, will benefit directly from the exchange of their shares of Kadimastem in exchange for shares of NLS resulting from the Merger. Q.What happens if the Merger is not consummated? If, for any reason, the Merger does not close, Kadimastem will remain an independent public company and will continue to be listed and traded on the Tel Aviv Stock Exchange, or TASE. Kadimastem’s business will not merger with the Merger Sub and become wholly owned by NLS. The Merger Agreement contains customary termination rights for each of NLS and Kadimastem, including the right of NLS and Kadimastem to terminate the Merger Agreement if the Closing shall not have occurred on or before an outside date, which can be extended by mutual agreement. The original outside date included in the Merger Agreement was January31, 2024, and has been extended to April30, 2025 by amendment. The Merger Agreement also provides that NLS shall pay to Kadimastem a termination fee of $10,000,000 plus the NLS Operating Expenses (as defined in the Merger Agreement), up to a maximum of $250,000 per month beginning July 28, 2024, and Transaction Expenses (as defined in the Merger Agreement) if NLS terminates the Merger Agreement prior to obtaining the Parent Requisite Vote (as defined in the Merger Agreement) to enter into a definitive agreement providing for a Parent Superior Proposal (as defined in the Merger Agreement) in accordance with terms of the Merger Agreement. Further, the NLS Board may, following the termination of the Merger Agreement, elect to, among other things, attempt to complete another strategic transaction similar to the Merger, attempt to sell or otherwise dispose of certain assets of NLS or continue to operate the business of NLS. xiv Q.When do you expect the Merger to be completed? The Closing is expected to