Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 303

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 303
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 Merger Agreement. On September25, 2024, NLS, Kadimastem and Donohoe Advisors had a call to discuss the Nasdaq compliance of the combined company. On November4, 2024, the parties executed the Merger Agreement and the applicable ancillary documents, and the Company issued a press release announcing the transaction. On December22, 2024, the Kadimastem Board was presented with the valuation reports and fairness opinion prepared by Moore. 132 NLS Board of Directors’ Reasons for the Merger During the course of its evaluation of the Merger Agreement and the transactions contemplated by the Merger Agreement, the NLS Board held numerous meetings, consulted with executive officers, legal counsel, and financial advisors, and reviewed and assessed a significant amount of information. In reaching its decision to approve the Merger Agreement and the transactions contemplated by the Merger Agreement, the NLS Board took into account information presented during the process and considered the following factors that it viewed as supporting its decision to approve the Merger Agreement: Strategic Considerations •Advantages •Complementary Strengths: The Merger enables the combined company to integrate its diverse expertise, technologies, and product pipelines, leading to more holistic solutions in its target market. Specifically: •Technology & R&D Synergies: NLS and Kadimastem bring together distinct but complementary research capabilities, accelerating innovation and increasing the potential for breakthrough developments. •Product Portfolio Expansion: The Merger aligns differentiated but synergistic offerings, allowing for enhanced cross -productfunctionality and bundling opportunities, particularly regarding the treatment/cure of diabetes. •Operational Expertise: NLS and Kadimastem leverage specialized knowledge in distinct areas (e.g., manufacturing, commercialization, regulatory processes, R&D) to create a stronger, more agile operational structure. •Go -to-Market& Customer Reach: Combining resources broadens market access, enabling entry into new geographical regions and a more diverse customer base. •Expansion of Market Reach: The Merger allows the combined company to increase market penetration and geographical coverage, creating a stronger competitive presence. Specifically, both NLS and Kadimastem currently lack established salesforces or distribution channels, the Merger: •Strengthens Scientific Credibility: A larger combined research team with broader expertise enhances reputation within the scientific and investment communities. •Improves Attractiveness for Partnerships: The combined company is more appealing for collaborations with pharma, biotech firms, government agencies, and grant funders.