Company: NCEL
Filing Date: 2025-07-29
Form Type: F-4/A
Source: 0001213900-25-068765
Chunk: 500

Company: NewcelX Ltd.
Filing Date: 2025-07-29
Form: F-4/A
Chunk 500
---
 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, (i) Merger Sub will merge with and into Kadimastem, with Kadimastem as the surviving company (the “Merger”), and (ii) NLS will issue common shares, 0.03 Swiss Franc (CHF) par value per share, of NLS (each, a “NLS Common Share”) to Kadimastem’s shareholders based on an initial target fully diluted share split, post Merger, of 85% to Kadimastem shareholders and 15% to NLS shareholders, in exchange for 100% of Kadimastem’s issued and outstanding shares. The target fully diluted share split of 85%/15% is subject to adjustment pursuant to the terms of the Merger Agreement, including as a result of estimated cash at the Measurement Date of NLS and Kadimastem and estimated indebtedness of NLS at the Measurement Date. Based on various factors, including gross cash proceeds from NLS’s financing transactions from October 2024 through June 2025 (approximately $6.7million mostly from investors introduced to NLS by Kadimastem, which satisfy the Investment Proceeds Adjustment) (for more information please see “ NLS’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Financing Activities”), and additional financing investments of approximately $2.5million currently reasonably expected to be raised prior to the Closing Date, the parties currently estimate the fully diluted share split at the Closing will be approximately 83% to Kadimastem shareholders and 17% to NLS shareholders. The additional financing investments of approximately $2.5million to be raised prior to the Closing Date is not a condition to Closing; if more or less than $2.5million is raised, the Exchange Ratio will change accordingly pursuant to the terms of the Merger Agreement. The Merger Agreement and the consummation