Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 794

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 794
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EM LTD.
NOTES TO FINANCIAL STATEMENTS Note 18: — EQUITY (cont.) E.On April 25, 2021, after receiving the approval of the Company’s Board of Directors on April 21, 2021, the Company completed an issuance in the amount of USD $6.85 million by way of a private placement led by Clover Wolf, Clover Alpha (hereinafter, “Clover”) and Alpha Capital Anstalt — European investment fund, for USD $4.6 million and USD $2 million respectively, as well as a total of USD $0.22 million by 2 additional investors (hereinafter, the “Consideration”). Below are the primary terms of the private placement : 7,861,752 Shares, as well as 7,861,752 non -marketablewarrants for the purchase of up to 7,861,752 Shares, which were to be issued in three series; 3,930,876 Series A warrants; 1,965,438 Series B1 warrants; and 1,965,438 Series B2 warrants, under the conditions detailed below: The warrants terms Each warrant of Series A would be exercisable for one Share, starting from the date of issuance and until July 31, 2022, for an exercise price of NIS 3.5 (USD $1.08). Each warrant of Series B1 would be exercisable for one Share, starting from the date of issuance and until April 3, 2023, for an exercise price of NIS 4.4 (USD $1.35) Each warrant of Series B2 would be exercisable for one Share, starting from the occurrence of a vesting event until April 30, 2023, against a cash payment of an exercise price of NIS 4.4 (USD $1.35); A “vesting event” was defined as the Company’s completion of a public financing process in an amount not less than NIS 10,000,000 (USD $3,113,000) (net of interested party investments in the Company, as applicable) during the period that began after the completion of this issuance and ends on October 30, 2021 (see Note 18F). The warrants’ value, USD $2,389,000, was determined according to the Black -Scholesmodel based on the following assumptions:

| Expected share price volatility (%) |     | 74%