Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 349

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 349
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 weighted average shares outstanding and net earnings per share information reflect the Merger as if it had occurred on December31, 2024.

| As of and for the twelve months ended December 31,      
 2024 for NLS and Kadimastem                             |     | NLS          
 (Historical) |           |   |     | Kadimastem   
 (Historical) |           |   |     | Pro         
 Forma       
 Combined(2) |            |   |
|:--------------------------------------------------------|:----|:-------------|----------:|:--|:----|:-------------|----------:|:--|:----|:------------|-----------:|:--|
| Book value per share(1)                                 |     | $            |     (8.84 | ) |     | $            |     (0.52 | ) |     | $           |       0.41 |   |
| Weighted average outstanding shares (basic and diluted) |     |              | 1,048,632 |   |     |              | 4,193,689 |   |     |             | 39,385,272 |   |
| Weighted average loss per share (basic and diluted)     |     | $            |     (1.94 | ) |     | $            |     (0.03 | ) |     | $           |      (0.16 | ) |

____________ (1)Book value per share is calculated using the formula: total shareholders’ equity from the balance sheet as of December 31, 2024 divided by shares outstanding as of December 31, 2024. (2)The pro forma combined numbers include the adjustments according to Kadimastem’s and NLS’s Unaudited Pro Forma Condensed Combined Balance Sheets as presented in this proxy statement/prospectus on page 268.

164 NLS BUSINESS History and Development of the Company NLS was incorporated on June10, 2015, as a Swiss limited company. In 2016, NLS acquired several patents from Assistance Publique — Hopitaux de Paris, or AP -HP, in France, including for NLS’s lead compound mazindol. Since the founding of NLS, NLS has assembled an experienced leadership team with a track record of developing and repurposing products to treat rare neurological disorders. NLS’s Chief Executive Officer, Alexander Zwyer, has held a variety of senior leadership roles of increasing responsibility in the