Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 69

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 69
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 the NLS Board at the Effective Time and shall remain as a member of the NLS Board and, from the date of the Closing, until the date that is one year after the date of the Closing, the combined company shall not take any action to remove, or recommend the removal of Mr.Zwyer from the combined company’s board of directors without cause, and shall nominate for election and continue to recommend to its shareholders that Mr.Zwyer be elected to serve as a director of the combined company. As a condition to his continued service and re -appointment, Mr.Zwyer shall tender an irrevocable resignation letter effective upon the lapse of one year from the date of the Closing, subject to acceptance of his resignation by the NLS Board. Q.What are the CVRs? Prior to the Closing, NLS will enter into the CVR Agreement with VStock Transfer, LLC, or the Rights Agent, which will govern the terms of the CVRs. The CVRs are contingent value rights that will be issued by NLS to the record holders of the outstanding NLS Common Shares as of immediately prior to the Effective Time. One CVR will be issued for each NLS Common Share held by each holder. Also, the CVRs will be issued by NLS to the holders of the outstanding warrants and pre -fundedwarrants of NLS as of immediately prior to the Effective Time, to the same extent that if such holders of NLS warrants had held the number of NLS Common Shares acquirable upon the complete exercise of such warrants. One CVR will be issued for each NLS Common Share acquirable upon the complete exercise of such warrants. For a more complete description of the CVR Agreement, please see the section entitled “ Certain Related Agreements — CVR Agreement” in this proxy statement/prospectus. CVRs will be issued and distributed by NLS in the form of a dividend to each holder in connection with the Merger. The CVR Agreement will only become effective as of, and contingent upon, the Closing and shall be void upon the valid termination of the Merger Agreement. Q.When will the CVRs be payable and what is the payment procedure for the CVRs? Payment of the CVRs is contingent upon the sale of the Legacy Assets (as defined in the Merger Agreement). Upon the occurrence of sale or disposition of all or any part of the Legacy Assets, NLS will deliver to the Rights Agent a certificate certifying that the holders of the CVRs are entitled to receive