Company: NCEL
Filing Date: 2025-06-23
Form Type: F-4/A
Source: 0001213900-25-056787
Chunk: 781

Company: NewcelX Ltd.
Filing Date: 2025-06-23
Form: F-4/A
Chunk 781
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 disbursed by the investors up to 7 days after the fulfillment of all the conditions (as defined below) (hereinafter, the “First Completion Date”). 2.The Company will have the right to require the investors to provide the Company with an additional amount in excess of the Initial Loan Amount of USD $450 thousand (Alpha Fund — USD $200 thousand; Mr. Ruggieri — USD $250 thousand) (hereinafter, the “Second Loan Amount”) in the 12 -monthperiod starting on the First Completion Date. The loan principal will bear interest at an annual rate of 10% (non -linked) (hereinafter, the “Interest” and with the loan principal, the “Loan”). The Loan repayment date will be after 15 months from the First Completion Date, and despite the above, the Company may extend the Loan repayment date by an additional period of 6 months (hereinafter, the “Extension Period” and the “Repayment Date,” respectively). The Company will not be allowed to pay off the Loan before the Repayment Date. As of 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