Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 227

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 227
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“Swiss Counsel” means
Baker McKenzie Switzerland AG.

“Threshold Price” shall
mean with respect to any particular VWAP Purchase Notice $1.00.

“Total Commitment” shall
have the meaning assigned to such term in Section 2.1 of this Agreement.

“Trading Day” shall
mean any day on which the Principal Market or, if the Common Shares is then listed on an Principal Market, such Principal Market is open
for trading (regular way), including any day on which the Principal Market (or such Principal Market, as applicable) is open for trading
(regular way) for a period of time less than the customary time.

“Transaction Documents”
shall mean, collectively, this Agreement (as qualified by the Commission Documents) and the exhibits hereto and each of the other agreements,
documents, certificates and instruments entered into or furnished by the parties hereto in connection with the transactions contemplated
hereby and thereby.

“Transfer Agent” shall
mean American Stock Transfer & Trust Company, LLC, the sole transfer agent and branch registrar of the Company or any successor thereto.

“United States Counsel”
means Sullivan & Worcester LLP.

“Upfront Commitment Fee”
shall mean a pre-funded warrant to purchase a number of Common Shares equal to the quotient obtained by dividing (i) $250,000 and (ii)
the closing price of the Common Shares on Nasdaq (or any successor Principal Market) on the Upfront Determination Date.

“Upfront Determination Date”
shall mean the last Trading Day prior to the date of this Agreement.

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“Variable Rate Transaction”
shall mean a transaction in which the Company (i) issues or sells any equity or debt securities that are convertible into, exchangeable
or exercisable for, or include the right to receive additional Common Shares or Common Shares Equivalents either (A) at a conversion price,
exercise price, exchange rate or other price that is based upon and/or varies with the trading prices of or quotations for the Common
Shares at any time after the initial issuance of such equity or debt securities, or (B) with a conversion, exercise or exchange price
that is subject to being reset at some future date after the initial issuance of such equity or debt security or upon the occurrence of
specified or contingent events directly or indirectly related to the business of the Company or the market for the Common Shares (including,
without limitation, any “full ratchet” or “weighted average” anti-dilution provisions