Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 23

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 23
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 by Kadimastem, the obligations of Kadimastem to consummate the Merger are subject to the satisfaction of the following additional conditions:

| ● | the representations and warranties of NLS and Merger Sub shall be true and correct as of the Closing (subject 
 to Material Adverse Effect);                                                                                  |

| ● | NLS and Merger Sub shall have performed in all material respects their respective obligations and complied                              
 in all material respects with their respective covenants and agreements under the Merger Agreement required to be performed or complied 
 with on or prior to the date of the Closing;                                                                                            |

| ● | the absence of any Material Adverse Effect with respect to NLS, taken as a whole, since the date of the 
 Merger Agreement which is continuing and uncured;                                                       |

| ● | NLS shall have paid off, redeemed or satisfied all of its Vendor Indebtedness (as defined in the Merger 
 Agreement);                                                                                             |

| ● | NLS shall have terminated the employment and engagement of all of its employees and consultants and paid                                    
 or otherwise satisfied all back pay, severance or termination pay, vacation pay and all other liabilities in respect of all such employment 
 and engagement;                                                                                                                             |

| ● | NLS shall have at least $600,000 in gross funds (including cash in any of its bank accounts); |

| ● | The (i) directors of NLS immediately prior to the Effective Time shall have resigned from their positions                                     
 (other than Mr. Zwyer), (ii) officers of NLS immediately prior to the Effective Time shall have resigned from their positions (other than     
 Mr. Konofal who shall remain in a part-time position with NLS), (iii) the executive officers of Kadimastem immediately prior to the Effective 
 Time shall be appointed as executive officers of NLS, and (iv) NLS shall have convened the shareholder meeting and shall have elected         
 the members of Board of Directors of Kadimastem as members of the NLS Board, effective as of the Effective Time; and                          |

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| ● | Common Shares shall remain listed on the Nasdaq and shall not be subject to a delisting notice from Nasdaq.                                
 The notification form for the listing of Common Shares to be issued in connection with the Merger shall have been accepted and approved    
 (subject to official notice of issuance), and the Nasdaq listing application for initial listing of NLS following the Merger and