Company: NCEL
Filing Date: 2025-11-06
Form Type: POS AM
Source: 0001213900-25-106799
Chunk: 45

Company: NewcelX Ltd.
Filing Date: 2025-11-06
Form: POS AM
Chunk 45
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 Note 5 below. (2) The preliminary purchase price of approximately $18.6 million has been allocated primarily to intangible assets — primarily intangibles assets IPR&D and goodwill. This estimate is based on management’s assessment of the currently available information, as a formal third -party valuation has not yet been completed. These indefinite -lived intangible assets will not be amortized but will be tested for impairment at least annually, or more frequently if indicators of impairment arise. (3) These intangible assets are not expected to be deductible for tax purposes. Given the preliminary nature of the purchase price allocation, the final allocation at closing may be adjusted. Any remaining consideration not assigned to identifiable net assets — including IPR&D — will be recognized as goodwill in accordance with IFRS 3, Business Combinations (paragraphs 32 – 34). For purposes of this pro forma presentation, NLS has aggregated indefinite -lived intangible assets, and goodwill as distinguishing between them does not impact the current presentation. 3.Earnings Per Share and Common Share Reconciliation The pro forma basic and diluted earnings per share amounts presented in the unaudited pro forma condensed combined statement of operations are based upon the number of the outstanding NLS Common Shares and NLS Common Shares underlying NLS Preferred Shares and Preferred Participation Certificates pursuant to which Kadimastem agreed to convert its share capital in exchange for the right to receive a number of validly issued, fully paid and nonassessable NLS Common Shares, equal to the Exchange Ratio, per each such Kadimastem Ordinary Share, assuming the Merger and related transactions occurred on January 1, 2024. An analysis of the number of outstanding NLS Common Shares post -Merger is as follows assuming an Exchange Ratio of 7.06 shares of NLS for 1 share of Kadimastem Ordinary Shares:

|                                                                                                                                                 |     |        Pre-Split 
              and 
 Recapitalization |     |        Post-Split 
               and 
 Recapitalization* |
| NLS Common Shares June 30, 2025, weighted average shares outstanding                                                                            |     |        4,004,867 |     |           400,487 |
| NLS Common Shares post-Merger:                                                                                                                  |     |                  |     |                   |
| Estimated outstanding NLS Common Shares and NLS Common Shares underlying outstanding NLS Preferred Shares and PPCs*                             |     |        6,115,056 |     |