Company: NCEL
Filing Date: 2025-11-06
Form Type: POS AM
Source: 0001213900-25-106799
Chunk: 68

Company: NewcelX Ltd.
Filing Date: 2025-11-06
Form: POS AM
Chunk 68
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 of June 30, 2025. The pre -fundedwarrants estimated fair value was based on the market price of Company’s common shares of $ 1.54on the date issued, since the exercise price is equal to par value or de minimis. Annex A-16 NLS PHARMACEUTICS LTD.
NOTES TO THE UNAUDITED INTERIM CONDENSED FINANCIAL STATEMENTS Deemed Dividends Down Round Provision Triggers The Company has issued and outstanding Preferred Shares and warrants to purchase common shares that include down round provisions. During the six months ended June 30, 2025, these down -roundprovisions were triggered twice when the Company sold common shares at $ 3.10in January 2025 (the “January 2025 Trigger”) and sold Preferred Shares and common share warrants for $ 1.65in March and June 2025 (the “March 2025 Trigger”). The January 2025 Trigger resulted in the reduction of the conversion price of the 806,452Preferred Shares issued in October 2024 of $ 4.96to $ 3.10. The reduction in conversion price was applied to all 806,452Preferred Shares issued in October 2024, even 600,000Preferred Shares converted into common shares prior to the January 2025 Trigger. This was due to the Company executing the sale of a securities purchase agreement in December 2024, (December 2024 SPA”) and delays of the closing being caused by the Company. The Company issued 360,000PPCs to the Preferred Share holder in January 2025 representing the additional common shares to be issued for the reduction of conversion price of $ 4.96to $ 3.10to the 600,000shares converted. The common shares issuable pre and post modification of the conversion price was 806,452and 1,290,323, respectively, or 483,871additional common shares issuable upon conversion. Further, the conversion price was further reduced from $ 3.10to $ 1.65from the March 2025 Trigger when there was 81,452PPCs remaining unconverted with a stated value of $ 4.96resulting in 114,526additional common shares being issuable upon conversion. The March 2025 Trigger also reduced the exercise price of outstanding warrants issued in October 2024 from $ 4.25to $ 1.65per share. The Company