Company: NCEL
Filing Date: 2025-10-24
Form Type: POS AM
Source: 0001213900-25-102149
Chunk: 11

Company: NewcelX Ltd.
Filing Date: 2025-10-24
Form: POS AM
Chunk 11
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 shall deposit or cause to be deposited with the Exchange Agent, for the benefit of the holders of Kadimastem
Ordinary Shares (excluding certain Kadimastem Ordinary Shares as set forth in the Merger Agreement in respect of which Common Shares shall
be issued directly to the trustee appointed by Kadimastem) for exchange in accordance with the terms and conditions of the Merger Agreement
through the Exchange Agent, the full number of Common Shares, which shall be in uncertificated book-entry form, issuable as Merger Consideration.
A full description of the exchange procedures with respect to the Kadimastem Ordinary Shares, including as such procedures relate to Kadimastem
Ordinary Shares that were issued under Section 102 of the Ordinance and any Kadimastem equity awards that are subject to tax pursuant
to Section 102(c)(2) of the Ordinance, and the issuance of the Merger Consideration can be found in the Merger Agreement.

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In addition, several convertible loans issued by Kadimastem will be converted into equity securities of Kadimastem before Closing, including (1) a loan to Kadimastem from the Selling Shareholder, in the amount of $1.2 million; and (2) a loan from Michel Revel in the amount of NIS 4.4 million. Under the Merger Agreement, any shareholder receiving Common Shares in excess of a 9.99% beneficial ownership limitation as a result of the Merger, shall be issued instead pre-funded warrants exercisable for a number of Common Shares equal to such Common Shares in excess of the beneficial ownership limitation, at an exercise price equal to the par value of the Common Shares as of the Effective Time, which, in any event, shall be no less than CHF 0.0001 per share. The Merger Agreement contains a number of representations and warranties by each of NLS, Merger Sub, and Kadimastem as of the date of the Merger Agreement and as of the date of the Closing. These representations and warranties have been made for the benefit of the other parties to the Merger Agreement and may be intended not as statements of fact but rather as a way of allocating the risk to one of the parties if such statements made in the representations and warranties prove to be incorrect. Many of the representations and warranties are qualified by materiality or by the “Material Adverse Effect”, which as used in the Merger Agreement means with