Company: NCEL
Filing Date: 2025-05-16
Form Type: 20-F
Source: 0001213900-25-044868
Chunk: 373

Company: NewcelX Ltd.
Filing Date: 2025-05-16
Form: 20-F
Item: Item 19
Chunk 373
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 trading days above the purchase price of $3.10, which corresponds to an approximate15% premium. As of December
31, 2024, the conditions for closing have not yet occurred. See Note 13 for further details.

In addition, the Company has agreed to register
the Company Common Shares subject to the terms of the previously executed registration rights agreement dated October 9, 2024, or the
Registration Rights Agreement, such that the Company Common Shares must be registered within 30 days of the closings.

F-22

NLS PHARMACEUTICS LTD. AND SUBSIDIARIES

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

On October 10, 2024, the Company
successfully implemented a crucial restructuring measure by converting the claims of debt holders in the amount of $2,788,650into493,986Company Common Shares, (“ Debt Conversion”) This conversion was facilitated through an ordinary capital increase,
providing the necessary shares for the debt holders. This conversion was facilitated through an ordinary capital increase, providing
the necessary shares for the debt holders, and was recorded at fair market value with no gain or loss recognized in the statement of
operations.

On October 9, 2024, the Company entered into the
October SPA, with certain accredited investors and agreed to issue and sell to the investors, in a private placement offering, (i)806,452Company Common Shares, and (ii) common share purchase warrants, or the Common Warrants, to purchase806,452Company Common Shares, at
a combined purchase price of $3.97, for aggregate gross proceeds of $3.2million. The Common Warrants have a term offive yearsand have
an exercise price of $4.25per share. Pursuant to the October SPA, the Company agreed to grant the investors the right to participate,
in the aggregate, in up to fifty percent (50%) of future offerings for one year following the closing of the offering. In addition, the
Company agreed not to enter into an equity line of credit or similar agreement, without the consent of the majority of the holders of
the preferred shares. The transactions contemplated by the October SPA closed on October 10, 2024.

On June 28, 2024, the Company entered into a securities
purchase agreement for the issuance of81,944Company Common Shares at a purchase price of $9.60per share. The offering
closed on July 1,