Company: NCEL
Filing Date: 2025-09-03
Form Type: F-4/A
Source: 0001213900-25-084157
Chunk: 824

Company: NewcelX Ltd.
Filing Date: 2025-09-03
Form: F-4/A
Chunk 824
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 the Shares that had been issued up to that time under all the dilutive events would be 20% or more than the Company’s issued capital after the issuance of the Shares in the last dilutive event — the protection mechanism will be on a “full ratchet” basis, that is, the conversion price will be adjusted to the Effective Price of the security. 6.Investors will have the right to demand the repayment of the Loan immediately in certain situations, the main of which include: (a) the submission of an application by or against the Company for insolvency, liquidation, settlement, [or other similar event] that is not dismissed or stricken out within 90 days; (b) the appointment of a receiver, liquidator, trustee, special manager, [or other similar person] without their release after a period of more than 30 days; (c) the termination or suspension of all or substantially all of the Company’s business activities at that time, for a period that exceeds 30 days; (d) a material violation of a condition, representation, or warranty made by the Company as part of the convertible loan agreement that is not rectified for up to 30 days from the date of receipt of a written notice of the said violation; (e) non -paymentof the Loan on the due date in accordance with the convertible loan agreement (hereinafter, “Causes for Immediate Repayment”). Insofar as a Cause for Immediate Repayment has occurred and the Company does not make the Loan repayment within three business days from the date of receipt of said demand, the investors will be entitled to demand the repayment of the Loan through conversion according to the lower of (a) a Company valuation of USD $7 million (pre -money) on the basis of issued and paid -upcapital; or (b) a 20% discount on the average price of the Company’s Shares in the 30 trading days preceding the date of the conversion notice (hereinafter, the “Conversion of the Loan upon an Immediate Repayment Cause”). Annex G-27

KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS NOTE 15: — CONVERTIBLE LOAN AND CONVERSION COMPONENT OF CONVERTIBLE LOAN AND WARRANTS (cont.) 7.The completion of the convertible loan agreement depends on the fulfillment of the conditions precedent, the main ones of which are detailed below: A.Obtaining the Stock Exchange’s approval for the issuance of all the Offered Securities; B.