Company: NCEL
Filing Date: 2025-02-10
Form Type: F-3
Source: 0001213900-25-011823
Chunk: 106

Company: NewcelX Ltd.
Filing Date: 2025-02-10
Form: F-3
Chunk 106
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 countries, principally
in the Middle East, restrict doing business with Israel, and additional countries may impose restrictions on doing business with Israel
and Israeli companies whether as a result of hostilities in the region or otherwise. Any hostilities involving Israel, terrorist activities,
political instability or violence in the region or the interruption or curtailment of trade or transport between Israel and its trading
partners could adversely affect its operations and results of operations and the market price of its Ordinary Shares.

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Conditions in the Middle East and in Israel, where its research and development facilities are located, may harm its operations.

Kadimastem’s office
where Kadimastem conducts its research and development, operations, sales outside the Americas, and administration activities, is located
in Israel. Many of Kadimastem’s employees are residents of Israel. Most of Kadimastem’s officers and directors are residents
of Israel. Since the establishment of the State of Israel in 1948, a number of armed conflicts have taken place between Israel and its
neighboring countries, and between Israel and the Hamas (an Islamist militia and political group in the Gaza Strip) and Hezbollah (an
Islamist militia and political group in Lebanon).

In particular, in October
2023, Hamas terrorists infiltrated Israel’s southern border from the Gaza Strip and conducted a series of attacks on civilian and
military targets. Hamas also launched extensive rocket attacks on the Israeli population and industrial centers located along Israel’s
border with the Gaza Strip and in other areas within the State of Israel. These attacks resulted in thousands of deaths and injuries,
and Hamas additionally kidnapped many Israeli civilians and soldiers. Following the attack, Israel’s security cabinet declared war
against Hamas and commenced a military campaign against Hamas and Hezbollah and these terrorist organizations in parallel continued rocket
and terror attacks. As a result of the events of October 7, 2023 whereby Hamas terrorists invaded southern Israel and launched thousands
of rockets in a widespread terrorist attack on Israel, the Israeli government declared that the country was at war and the Israeli military
began to call-up reservists for active duty. As of the date of this prospectus, Kadimastem has not been impacted by any absences of personnel
at its service providers or counterparties located in Israel. Military service call ups that result in absences of personnel from Kadimastem
for an extended period of time may materially and adversely affect its business, prospects, financial condition and results of operations