Company: NCEL
Filing Date: 2025-06-09
Form Type: F-4/A
Source: 0001213900-25-052354
Chunk: 95

Company: NewcelX Ltd.
Filing Date: 2025-06-09
Form: F-4/A
Chunk 95
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340 |     |        51,532,462 |

____________ (1)As Kadimastem Ordinary Shares trade on the TASE, there is a lack of liquidity. It is therefore difficult to determine a current active market valuation. Prior to the announcement of the deal, daily trading volume was around $1,500. (2)In accordance with the Merger Agreement on a fully diluted basis. Represents the total value of Ordinary Shares to be exchanged for NLS Common Shares as part of the Merger. (3)Moore’s valuation report for Kadimastem attached to this proxy statement/prospectus values it at USD 71,307,000 based on the details analysis. The market prices of NLS Common Share and Kadimastem Ordinary Share have fluctuated since the date of the announcement of the Merger Agreement and will continue to fluctuate from the date of this proxy statement/prospectus to the date of the NLS Meeting and the date the Merger is completed and thereafter. See “ Risk Factors — Risks Related to the Merger” in this proxy statement/prospectus. We encourage you to obtain current quotes for the NLS Common Share and Kadimastem Ordinary Share.

21 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain statements in this proxy statement/prospectus may constitute “forward -lookingstatements” for purposes of the federal securities laws. Forward -lookingstatements include, but are not limited to, statements regarding NLS, Kadimastem and their respective management teams’ expectations, hopes, beliefs, intentions or strategies regarding the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward -lookingstatements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “will,” “would” and similar expressions may identify forward -lookingstatements, but the absence of these words does not mean that a statement is not forward -looking. Forward -lookingstatements in this proxy statement/prospectus may include, for example, statements about: •the ability of NLS and Kadimastem to consummate the Merger; •the risks that the consummation of the Merger is substantially delayed or does not occur, for example due to the failure to obtain