Company: NCEL
Filing Date: 2025-09-10
Form Type: 424B3
Source: 0001213900-25-086600
Chunk: 448

Company: NewcelX Ltd.
Filing Date: 2025-09-10
Form: 424B3
Chunk 448
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 of the NLS Common Shares, subject to certain conditions and limitations set forth in the Facility SPA. As a result of these actions, the Company believes that, as of the date of this report, it satisfies the stockholders’ equity requirement of at least $2.5million pursuant to Nasdaq Listing Rule 5550(b)(1) for continued listing on the Nasdaq Capital Market. Accordingly, the 2024 consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplate our continuation as a going concern for a period within one year from the issuance of our 2024 financial statements and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in these consolidated financial statements do not necessarily purport to represent realizable or settlement values. Our 2024 consolidated financial statements do not include any adjustment that might result from the outcome of this uncertainty. Capital Resources and Liquidity The anticipated Merger is expected to strengthen our balance sheet by reducing our leverage and increasing our equity base. This will enhance our financial flexibility and support our growth initiatives. There can be no assurance that capital will be available within a sufficient period of time, in sufficient amounts or on terms acceptable to us. These conditions raise substantial doubt about our ability to continue as a going concern beyond one year from the issuance of these unaudited interim condensed financial statements. 242 As of December31, 2024, our cash and cash equivalents were $1.7million. We believe that our existing cash and cash equivalents will not be sufficient to fund our projected operating requirements for a period of one year from the issuance of the financial statements included elsewhere in this proxy statement/prospectus. This raises substantial doubt about our ability to continue as a going concern. Additionally, our operating plans may change as a result of many factors that may currently be unknown to us including: •the progress and costs of the Company’s pre -clinicalstudies, clinical trials and other research and development activities; •the scope, prioritization and number of the Company’s clinical trials and other research and development programs; •any cost that the Company may incur under in- and out -licensingarrangements relating to its product candidate that it may enter into in the future; •the costs and timing of obtaining regulatory approval for the Company’s product candidates; •the costs of filing, prosecuting, enforcing and defending patent claims and other intellectual property rights; •the costs of, and timing for, strengthening the Company’s manufacturing agreements