Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 270

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 4
Chunk 270
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9, 2024, we entered into a securities purchase agreement with certain accredited investors, including Ronald Hafner. Under this
agreement, we issued and sold 806,452 common shares and warrants to purchase an additional 806,452 common shares, at a combined purchase
price of $3.97, for aggregate gross proceeds of $3.2 million. The warrants have a term of five years and an exercise price of $4.25 per
share. Investors were granted the right to participate in up to 50% of future offerings for one year following the closing. We also agreed
not to enter into an equity line of credit or similar agreement without the consent of the majority of the preferred shareholders. The
transaction closed on October 10, 2024.

Also on October
9, 2024, we entered into a securities purchase agreement with an accredited investor to satisfy $4.0 million of our debt by issuing 806,452
newly designated convertible preferred shares at a purchase price of $4.96 per share. The preferred shares have a conversion price of
$4.96 per share. The investor was granted the right to purchase up to an additional $10.0 million worth of convertible preferred shares
starting six months after the closing and continuing as long as they own preferred shares. The investor also has the right to participate
in up to 50% of future offerings for one year following the closing. We agreed not to enter into an equity line of credit or similar
agreement without the consent of the majority of the preferred shareholders. This transaction also closed on October 10, 2024.

C. Interests
of Experts and Counsel

Not
applicable.

ITEM 8. FINANCIAL
INFORMATION.

A. Consolidated
Statements and Other Financial Information.

See
“ Item 18. Financial Statements.”

Legal Proceedings

From
time to time we may become involved in legal proceedings that arise in the ordinary course of business. During the period covered by
the financial statements contained herein, we were not subject to any material legal proceedings that has had a material adverse effect
on our financial position, except as described below. No assurance can be given that future litigation will not have a material adverse
effect on our financial position. When appropriate in management’s estimation, we may record reserves in our financial statements
for pending litigation and other claims.

Cambrex Corporation

On
December 1, 2023, we received a letter from Cambrex Corporation