Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 70

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 70
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 a corresponding CVR payment and setting forth, in reasonable detail, the calculation of the applicable CVR payment amount, together with reasonable supporting documentation for such calculation. The Rights Agent shall, within the time period specified in the Merger Agreement, deliver to the holders of the CVRs a copy of their payment. Pursuant to the CVR Agreement, NLS is also entitled to abandon the planned sale of the Legacy Assets in accordance with the terms and conditions of the Merger Agreement, after which the holders of the CVRs will not be entitled to any kind payment under the CVR Agreement. For more detailed discussion of the Legacy Assets and payment procedure for the CVRs, please see the sections entitled “ The Merger Proposal (Proposal 1) — The Merger Agreement” and “ Certain Related Agreements — CVR Agreement.” Q.Is interest payable with respect to the CVRs? No interest will accrue on any amounts payable on the CVRs to any CVR holder. Q.If the CVR payment is made, what will be the respective ownership percentages? The CVRs will not represent any equity or ownership interest in NLS or in any constituent company to the Merger. Q.Is the CVR payment secured or guaranteed? The CVR payment is neither secured nor guaranteed. Notwithstanding anything to the contrary, the CVR Agreement shall only become effective as of, and contingent upon, the Closing and shall be void ab initio and of no effect upon the valid termination of the Merger Agreement, if signed prior to the Closing. Even if the Merger is completed, there is no guarantee that any proceeds will be paid to NLS shareholders under the CVR Agreement. Payment of the CVRs xi

is contingent upon the sale of the Legacy Assets. Pursuant to the CVR Agreement, NLS is also entitled to abandon the planned sale of the Legacy Assets in accordance with the terms and conditions of the Merger Agreement, after which the holders of the CVRs will not be entitled to any kind payment under the CVR Agreement. If the divested business generates negative cash flow and/or profitability at the end of any fiscal quarter (except for intellectual property maintenance costs of up to $100,000 per calendar year), the combined company will have the right to cease the sale process of the divested business and take any action regarding it as deemed appropriate. The rights of the holders and the obligations of NLS are contract rights limited to those expressly set forth in the Merger Agreement and the CVR Agreement, and such holders’ sole