Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 460

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 460
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2022 in such a way that each shareholder who held 100 Shares would be entitled to purchase 1 rights unit, with 1 rights unit consisted of 32 Shares, and the total price of each rights unit was USD $10 and the total number of rights units offered was up to 14,623,392 rights units, and (B) the reverse share split conducted by Kadimastem in March 2024, at a 10 -for-1ratio. The accompanying notes are an integral part of these unaudited pro forma condensed combined financial statements.

267 Kadimastem Ltd. & NLS Pharmaceutics Ltd.
Notes to accompanying Financial Statements 1.Description of the Proposed Transaction and Basis of Presentation NLS Pharmaceutics Ltd. (Nasdaq: NLSP) (“NLS”), a biopharmaceutical company, and Kadimastem Ltd. (TASE: KDST.TA”) (“Kadimastem”), a clinical -stagecell therapy company developing and manufacturing “off -the-shelf” allogeneic cell products for the treatment of neurodegenerative diseases and potential cure of diabetes, announced on November 4, 2024 that they have entered into a definitive merger agreement (the “Merger Agreement”) to combine the two companies to focus on advancing NLS’s promising, first -inclass Dual Orexin Agonist platform (“DOXA”) and Kadimastem’s allogenic cell therapy program with its clinical assets (mainly targeting diabetes and amyotrophic lateral sclerosis (ALS), with Phase 2a studies that are planned to be initiated in the U.S. following the closing of the transaction). AstroRx ®Phase 2a study cost estimation is about $12million. The necessary steps for study initiation include completion of AstroRx ®clinical production by contract development and manufacturing organization and contract signing with medical centers and clinical teams. Following the closing of the transactions contemplated by the Merger Agreement (the “Closing”), NLS intends to divest its other legacy assets (including the mazindol ER but excluding the DOXA platform), and the net proceeds of any such disposition, after deducting certain costs, fees, and expenses as set forth in a contingent value agreement (the “CVR Agreement”), will be distributed to NLS’s shareholders and warrant holders, subject to the terms of the Merger Agreement and the CVR Agreement. At the Closing, pursuant to the terms of the Merger Agreement, NLS will issue common shares,