Company: NCEL
Filing Date: 2025-11-06
Form Type: POS AM
Source: 0001213900-25-106799
Chunk: 30

Company: NewcelX Ltd.
Filing Date: 2025-11-06
Form: POS AM
Chunk 30
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 primarily due to .a loan received from Prof. Michel Revel, Kadimastem’s Chief Scientific Officer, director and significant shareholder of Kadimastem in the amount of $269 thousand, compared to loan of $458 thousand received from shareholders offset by repayment of lease liability in amount of $208 thousand during the first six months of 2024. Net cash provided by financing activities for the year ended December 31, 2024, amounted to $89,270, representing a decrease of $2,311,803 compared to $2,401,073 for the year ended December 31, 2023. This decrease was primarily due to capital raised by Kadimastem and proceeds from a convertible loan during the year ended December 31, 2023. 17 During the six months ended June 30, 2025, the cash flow from financing activities included the receipt of a convertible loan from Kadimastem’s shareholders, in the amount of $278,000. Financing Developments Recent Developments (January 1, 2025 to the date of this proxy statement/prospectus): On April 14, 2025, Kadimastem announced that, Mr. Julien Ruggieri, a significant shareholder of Kadimastem, provided Kadimastem with a written notice of his decision to convert $500,000 principal balance of the convertible loan granted by him to Kadimastem, excluding accrued interest of $60,479, into 279,952 Kadimastem Ordinary Shares and 349,940 non -listedwarrants, exercisable into 349,940 Kadimastem Ordinary Shares, or the Ruggieri Warrants. The conversion was carried out in accordance with the terms of the convertible loan agreement dated October 16, 2023. In May 2025, as a result of the accrued interest amounting $60,479 (approximately NIS 222,867), Kadimastem issued to Mr. Ruggieri 36,233 Kadimastem Ordinary Shares and 9,960 non -listedRuggieri Warrants, exercisable into 9,960 Kadimastem Ordinary Shares. The Ruggieri Warrants shall have an exercise price equal to 110% of the conversion price NIS 6.77 ($1.84 per warrant) and shall be exercisable for a period of 42 months from the date of issuance. On April 23, 2025, Kadimastem announced that