Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 62

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 62
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 Date is not a condition to Closing; if more or less than $2.5million is raised, the Exchange Ratio will change accordingly pursuant to the terms of the Merger Agreement. For example, if (i) the Merger was consummated as of August28, 2025 (other than current liabilities of the previous month), (ii) the amount of proceeds received by NLS in connection with the sale of NLS Common Shares to investors introduced to NLS by Kadimastem or its representatives equaled $6,500,000, (iii) the amount of NLS’s estimate of its cash at the Closing equaled $5,000,000, inclusive of the Investment Proceeds Adjustment and additional financing investments of approximately $2.5million currently reasonably expected to be raised prior to the Closing Date, and (iv) the amount of NLS’s estimate of its indebtedness at the Closing equaled $950,000million, each Kadimastem Ordinary Share (on a fully diluted basis) would have been entitled to receive approximately 7 NLS Common Shares on a fully diluted basis. NLS will provide the final Exchange Ratio and Merger Consideration at the NLS Meeting. The Exchange Ratio is subject to adjustment as set forth in the Merger Agreement, including, among other things, in the event of the failure of NLS or Kadimastem to satisfy certain conditions; provided, however, that in the event that the Measurement Date Indebtedness (as defined in the Merger Agreement) is greater than $0 and/or the Measurement Date Cash (as defined in the Merger Agreement) is less than $600,000, the resulting number of NLS Common Shares issued as Merger Consideration will exceed the anticipated and agreed 85% of all issued and outstanding shares; provided further, however, that in the event that the result of (i) the Measurement Date Cash (as defined in the Merger Agreement) minus the (ii) Measurement Date Indebtedness (as defined in the Merger Agreement) is more than $600,000, the resulting number of NLS Common Shares issued as Merger Consideration will be less than the target 85% of all issued and outstanding shares. For a more complete description of what the holders of Kadimastem Ordinary Shares will receive in the Merger, please see the section entitled “ The Merger Agreement — Merger Consideration” in this proxy statement/prospectus. Q.What are the respective valuations attributed