Company: NCEL
Filing Date: 2025-02-05
Form Type: F-3
Source: 0001213900-25-010223
Chunk: 7

Company: NewcelX Ltd.
Filing Date: 2025-02-05
Form: F-3
Chunk 7
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 of a contingent value rights agreement, substantially in the form attached to the Merger Agreement, or the CVR Agreement, subject to the adjustments set forth therein.

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At the Effective Time, each:

| ● | Kadimastem Ordinary Share                                                                                                             
 issued and outstanding immediately prior to the Effective Time will be exchanged for and converted into the right to receive a number 
 of newly issued, fully paid and nonassessable Common Shares equal to the Exchange Ratio;                                              |

| ● | option, restricted share                                                                                                            
 unit, restricted share, warrant or other rights issued and outstanding, whether vested or unvested, to purchase Kadimastem Ordinary 
 Shares, shall be assumed by the Company and converted into an option, warrant, other award, or right, as applicable, to purchase    
 Common Shares in accordance with the terms of the Merger Agreement; and                                                             |

| ● | each Common Share issued                                                                                                            
 and outstanding immediately prior to the Effective time, and each Common Share acquirable upon the exercise of outstanding warrants 
 and pre-funded warrants of the Company, shall continue to remain outstanding and, in addition, be entitled to a contingent value    
 right, or CVR, pursuant to the terms of the Merger Agreement and the CVR Agreement.                                                 |

The Merger Agreement and the consummation of the transactions contemplated thereby have been approved by the Company’s board of directors, or the Board, and Kadimastem’s board of directors and shareholders. The Board has resolved, subject to customary exceptions, to recommend that the shareholders of the Company approve the Merger Agreement and the transactions contemplated therein. The Company’s officers (other than Mr. Konofal who shall remain in a part -time position with the Company) and members of the Board as of the Effective Time will resign and it is anticipated that Kadimastem’s executive officers and members of its board of directors as of the Effective Time will become the Company’s executive officers and members of the Board, respectively; provided, however, that Mr. Alexander Zwyer shall not resign as a member of the Board at the Effective Time and shall remain as a member of the Board and, following the Closing, the Company shall have the right to appoint to the Board one individual nominated in writing by Mr. Zwyer and acceptable to the Company, which shall continue to be nominated and recommended by the Company for election by its shareholders for a period of one year following the Closing. The Merger Agreement contains representations, warranties