Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 193

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 193
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 analysts, the market price of NLS Common Shares prior to the completion of the Merger may decline. The market values of our securities at the time of the Merger may vary significantly from their prices on the date the Merger Agreement was executed, or the date of this proxy statement/prospectus. In addition, following the Merger, fluctuations in the price of NLS Common Shares could contribute to the loss of all or part of your investment. If an active market for NLS Common Shares develops and continues, the trading price of NLS Common Shares following the Merger could be volatile and subject to wide fluctuations in response to various factors, some of which are beyond our control. If the benefits of the Merger do not meet the expectations of investors or securities analysts it could have a material adverse effect on your investment in NLS Common Shares and NLS Common Shares may trade at prices significantly below the price you paid for them. In such circumstances, the trading price of NLS Common Shares may not recover and may experience a further decline. 62 Even if the Merger is completed, there is no guarantee that any proceeds will be paid to NLS shareholders under the CVR Agreement. Even if the Merger is completed, there can be no assurance that any payments will be made to NLS shareholders under the CVR Agreement. The Contingent Value Rights provide for potential payments to NLS shareholders based on the achievement of certain post -mergerperformance or milestone criteria. These criteria depend on factors that are largely outside our control, such as the successful integration of the companies, the realization of anticipated synergies, and the achievement of specific operational or financial targets within specified timeframes. In addition, various risks, uncertainties, and assumptions could impact the ability of the combined company to generate the necessary funds for such payments. These include, but are not limited to, changes in market conditions, competitive pressures, regulatory developments, or unexpected costs that may arise following the Merger. If the combined company is unable to achieve the necessary milestones or if additional unforeseen challenges arise, it is possible that no payments will be made to NLS shareholders under the CVR Agreement. Consequently, NLS shareholders should understand that the CVR Agreement does not guarantee any future payments, and they may receive little or no proceeds from the CVR Agreement in connection with the Merger. Risks Related to NLS After the Consummation of the Merger Following the Merger, NLS intends to shift its business focus to developing and manufacturing “off-the-shelf