Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 110

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 110
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 part of the warrant exchange transaction, and the Company received the consideration USD $1,340 thousand, and thus
the receipt of the total consideration according to the investment agreements was completed, totaling USD $2,940,000 (USD $2,792,000,
net).

<div align='center'>F-34</div>

| G. | On October 21, 2021, the Company’s Board of Directors, following the audit committee’s approval,                                            
 approved the Company’s entry into an investment agreement with each of Prof. Revel and Mr. Ruggieri, who are interested parties             
 in the Company (hereinafter, the “Investment Agreements” and the “Interested Parties”). In the Investment Agreements,                       
 it was determined that in exchange for a total of USD $2.1 million (Prof. Revel - USD $1.1 million; Mr. Ruggieri - USD $1 million), the     
 Company would issue to them, in accordance with their investment ratio, 1,550,478 Shares, so that Prof. Revel would be issued 804,383       
 Shares, and Mr. Ruggieri would be issued 746,095 Shares, and that in exchange for USD $1.5 million, the Company will repay loans that       
 had been received from an interested party before, whose repayment date has passed. Prof. Revel would be repaid USD $1.1 million by the     
 Company, Mr. Ruggieri would be repaid USD $0.4 million, and the remaining amount, USD $0.6 million, was received in cash from Mr. Ruggieri. |

On December 7, 2021, the general meeting
of shareholders authorized the Investment Agreements. On December 23, 2021, the full consideration was received and the transaction was
completed.

| H. | On November 23, 2021, the Board of Directors approved a private placement agreement (the “Placement”)            
 in the amount of USD $3.2 million (the “Investment Amount”) with Ilex Medical Ltd (hereinafter, the “Investor”). 
 The agreement with the Investor was signed on November 24, 2021.                                                 |

As part of the Placement, the Investor
would be issued 2,345,216 ordinary shares. In addition, the Investor would be issued 1,407,130 non-marketable warrants eligible for conversion
into 1,407,130 marketable shares without consideration. The