Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 835

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 835
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 |     |           1,185 |     |          841 |     | 2,026 |

B.In respect of a loan agreement with a bank, in the amount of USD $330 thousand (NIS 1,200 thousand) (hereinafter, the “Bank Loan”), Prof. Michel Revel (hereinafter, “Prof. Revel”) has provided a guarantee without the Company paying anything in consideration (hereinafter, the “Benefit”). The Bank Loan terms are as follows: 1.The Bank Loan will bear annual interest at the rate of prime + 1.75, as determined in commercial negotiation between the Company and the bank. 2.The Company will pay monthly interest payments on the Bank Loan. When the Bank Loan was first recognized, the Company measured the fair value of the Benefit it had received from Prof. Revel in his capacity as an interested party in the Company, and credited it to the interested party transaction capital reserve, less the tax effect. The discount rate was determined according to the CAPM model and the WACC as of the reporting date, and was determined by the Company at a rate of approximately 20%, based on the following assumptions:

| Rate of return     |     |  11 | % |
| Miscellaneous      |     | 1.3 |   |
| Risk-free interest |     | 3.6 | % |

Since December 31, 2020, the repayment date has been postponed 4 times; the repayment date has most recently been postponed to December 31, 2024. As of December 31, 2023, due to the change in interest rates in the economy, the interest rate on the Bank Loan is 7.95%. The Bank Loan is presented at fair value as of December 31, 2023, in the amount of USD $301. Due to updates to the aforementioned loan terms, in 2023, 2022, and 2021, the Company credited a Benefit to the interested party transactions capital reserve, totaling USD $53, $47, and $22 thousand net, respectively .

Annex G-18

KADIMASTEM LTD.
NOTES TO FINANCIAL STATEMENTS Note 9: — LIABILITIES AND LOANS FROM AN INTERESTED PARTY AND OTHERS (cont.) C.Below is a breakdown of the loans from an interested party as of December 31, 2023:

| Loan receipt 
 date         |     | Name               
 of the             
 lender