Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 188

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 188
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 the Merger Agreement is a condition to the Closing under the Merger Agreement. Therefore, NLS may consummate the Merger only if it is approved by the affirmative vote of the holders of an absolute majority of all votes represented. To approve this Proposal1, a resolution passed by a Simple Majority Vote is required. You may vote “FOR,” “AGAINST” or “ABSTAIN” on Proposal 1. A failure to vote, an abstention or a broker non -vote, if any, will have the same effect as a vote “AGAINST” Proposal 1. THE NLS BOARD UNANIMOUSLY RECOMMENDS THAT YOU VOTE
“FOR” PROPOSAL 1. 78 Approval of ORDINARY SHARE CAPITAL INCREASE WITH CONTRIBUTION OF THE KADIMASTEM SHARES TO IMPLEMENT THE MERGER (PROPOSAL 2) Under Swiss law, share capital may be increased through a resolution of the shareholders’ meeting (ordinary capital increase), which must be implemented by the NLS Board within six months to become effective. The amount by which the capital can be increased in an ordinary capital increase is unlimited, provided that sufficient contributions are made to cover the capital increase. According to the Merger Agreement, each Kadimastem Ordinary Share will, by virtue of the merger, be exchanged for and converted into the right to receive a newly issued, fully paid -inNLS Common Shares, based on an Exchange Ratio as set forth in the Merger Agreement. For the purpose of making available the required number of Merger Compensation Shares to serve as merger consideration for the Kadimastem shareholders, the Company has agreed to create the necessary Merger Compensation Shares by way of an ordinary capital increase, excluding the subscription rights of existing shareholders of the Company. At the extraordinary shareholders’ meeting, shareholders will be asked to approve the ordinary capital increase to create and issue the Merger Compensation Shares in accordance with the Merger Agreement. The initial Exchange Ratio is estimated to result in Kadimastem shareholders holding approximately 85% of the issued and outstanding Company Common Shares, subject to certain adjustments as of the Closing, including as a result of estimated closing cash of NLS and Kadimastem and estimated closing indebtedness of NLS. Based on the cash balance of NLS as of March31, 2025, the parties currently estimate the fully diluted share split at the Closing will be 80% to Kadimastem shareholders and 20% to NLS shareholders. The number of N