Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 793

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 793
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 liquidation, and the right to receive dividends, as declared. D.On February 19, 2020, the Company completed a material private placement, offering: 1.645,706 non -marketablewarrants (Series E1), each of which was exercisable for one Share for an exercise price of about NIS 3; the warrants would be exercisable until September 30, 2020 (hereinafter, the “Series E1 Warrant”). The Series E1 Warrants’ value, USD $173 thousand, was determined according to the Black -Scholesmodel based on the following assumptions:

| Dividend yield for the share (%)    |     |     — |   |
| Expected share price volatility (%) |     | 67.14 | % |
| Risk-free interest rate (%)         |     |   0.2 | % |
| Share price (USD)                   |     |  1.00 |   |

On September 30, 2020, 638,708 Series E1 warrants totaling USD $170 thousand expired. 2.645,706 non -marketablewarrants, each of which was exercisable for one Share for an exercise price of USD $1.46; the warrants were exercisable until December 31, 2021 (hereinafter, the “Series E2 Warrant”). The value of the Series E2 Warrants, USD $156 thousand, was determined according to the Black -Scholesmodel based on the following assumptions:

| Dividend yield for the share (%)    |     |     — |   |
| Expected share price volatility (%) |     | 67.14 | % |
| Risk-free interest rate (%)         |     |   0.2 | % |
| Share price (USD)                   |     |  1.02 |   |

The issuance of the Series E1 Warrants and Series E2 Warrants was approved by the Company’s Board of Directors on February 13, 2020. The issuance of the shares that would result from the exercise of the warrants was approved for listing by the TASE on March 12, 2020. On August 31, 2021, 67,884 Series E2 Warrants were exercised for USD $99 thousand (the exercise price). On December 31, 2021, 577,882 Series E2 Warrants, totaling USD $140 thousand, expired.

Annex G-34

KADIMAST