Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 346

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 346
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as a reverse triangular merger), with goodwill and other identifiable intangible assets recorded in accordance with IFRS, as applicable to be determined at the time of Merger. Under this method of accounting, NLS is anticipated to be treated as the “acquired” company for financial reporting purposes, and Kadimastem is to be the accounting acquirer based upon the terms of the Merger Agreement and other factors, including: (i) the expectation that Kadimastem shareholders will own approximately 80 -85% of the voting interests of the combined company immediately following the Closing; (ii) directors appointed by Kadimastem will constitute the majority of the board of directors of the combined company; and (iii) employees of Kadimastem will constitute the majority of the management of the combined company. Therefore, Kadimastem is anticipated to be the accounting acquirer because it is anticipated to control the board of directors, management of the combined company, and the preexisting shareholders of Kadimastem are expected to have the majority voting rights of the combined company. 162 CERTAIN RELATED AGREEMENTS This section describes the material provisions of certain additional agreements entered into or to be entered into pursuant to the Merger Agreement, or the Ancillary Agreements, but does not purport to describe all of the terms thereof or include all of the additional agreements entered into or to be entered into pursuant to the Merger Agreement. The following summary is qualified in its entirety by reference to the complete text of each of the Ancillary Agreements. NLS shareholders and other interested parties are urged to read such Ancillary Agreements in their entirety. Support Agreements On or prior to the execution of the Merger Agreement, NLS entered into Support Agreements with certain shareholders of NLS pursuant to which each Supporting Person has agreed, among other things, to vote its NLS Common Shares in favor of the Merger at meetings of the NLS’s shareholders convened to approve the Merger. The Support Agreement will terminate upon the earliest to occur of (a) the date that the NLS shareholder resolutions are approved, (b) the termination of the Merger Agreement in accordance with its terms, (c) written notice of termination of the Support Agreement by NLS to the Supporting Person, and (d) 365 days from the effective date of the Support Agreement. The Support Agreements contains a number of representations and warranties by Supporting Person, severally not jointly, as of the respective effective dates of the Support Agreements. The representations