Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 65

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 65
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 rules and regulations in connection with the issuance of the shares in connection with the Merger, including the filing with the SEC of this proxy state ment/prospectus. In

viii addition, in connection with the Merger, Kadimastem is in the process of obtaining a 103K Tax Ruling, from the tax authorities in Israel; both NLS and Kadimastem are required to comply with the provisions thereunder. In Switzerland, the merger compensation shares must be registered with the Commercial Register of Zurich prior to the Closing. For a more complete description of the closing conditions under the Merger Agreement, please see the section entitled “ Conditions to the Consummation of the Merger” beginning on page 159 of this proxy statement/prospectus. Q.What is the anticipated liquidity position of the combined company following the Merger? As of August28, 2025, NLS and Kadimastem believe that the combined liquidity at Closing on a consolidated basis will be approximately $6.5million, including financing investments of approximately $2.5million to be raised prior to the Closing Date, with a combined amount of debt equal to approximately $1.5million. NLS performed a debt to equity conversion on October15, 2024, and is free of past liabilities, except for current working capital needs. NLS estimates that as of the Closing it will have sufficient funds to commence Kadimastem’s Phase IIa trial for amyotrophic lateral sclerosis, or ALS. Kadimastem estimates that the financing requirements of the Phase IIa trial will be between $10.0million and $15.0million. Following the Merger, the combined company intends to conduct a few new drug reviews in order to introduce the combined company and all of its products to the market. In addition, we agreed to grant an investor the right to purchase up to an additional $10million worth of convertible preferred shares under a securities purchase agreement we entered into on October9, 2024 with an accredited investor, or the Debt Purchase Agreement, which is available to NLS’s resources based on market conditions and its performance. For more information regarding the terms of the Debt Purchase Agreements and $10million facility thereunder, please see “ NLS’s Management’s Discussion and Analysis of Financial Condition and Results of Operations — Financing Activities”in this proxy statement/prospectus. The combined company anticipates incurring approximately $1.5million of expenses in connection with the Merger. These fees include legal fees,