Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 814

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 814
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 the reporting date, the Loan has not yet been converted, as it is subject to the merger transaction with NLS. On the due date, the investors will be entitled, at their sole discretion, to repayment of the Loan in one of the following two methods: (a) paying off the Loan in cash, or (b) paying off the Loan by way of conversion into ordinary shares of the Company, (hereinafter, “Shares”); in the event that on the due date, the Company will not have the means to repay the Loan, the investors may, at their sole discretion, convert the Loan, as described above, or remain indebted until a later date when the Company can repay the Loan. It is clarified that the investors have the right to convert the Loan into Shares at any time starting from the date of deposit of the Initial Loan Amount, at their sole discretion. 3.To the extent that the investors choose to convert the Loan into Shares, the Loan will be converted into Shares at the price that is the lower of (a) a Company value of USD $7 million (NIS 28 million) (before the investment money), based on issued and paid -upcapital on the conversion date, or (b) a price that reflects a 10% discount on the average price of the Company’s Shares in the 30 trading days preceding the date of the conversion notice, subject to additional conversion price adjustments to protect against dilution (as detailed below). To clarify, the conversion price for each Share will not be less than the minimum price per Share according to the Tel Aviv Stock Exchange rules and regulations (hereinafter, the “Stock Exchange”). As applicable from time to time (hereinafter, the “conversion shares” and the “conversion price,” respectively), as the Company makes capital changes (such as a capital split or consolidation), the conversion shares and the conversion price will be adjusted accordingly in order to safeguard the investors’ rights. To clarify, investors will not be allocated securities for this transaction in any case: (a) at a rate exceeding 74.99% of the Company’s issued and paid -upcapital after full dilution; or (b) at an amount that would require a tender to acquire all outstanding shares, as this term is defined in the Company’s law. Any part of the loan that is not converted into equity will remain as the Company’s debt to the investors. Annex G-26 KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS NOTE