Company: NCEL
Filing Date: 2025-03-31
Form Type: 425
Source: 0001213900-25-025889
Chunk: 78

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: 425
Chunk 78
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 on any
Trading Day during the period commencing on the date of the applicable Conversion Notice and ending on the date of such issuance and payment
under this clause (ii). Immediately following the voiding of a Conversion Notice as aforesaid, the Conversion Price of any Preferred Shares
returned or retained by such Purchaser for failure to timely convert shall be adjusted to the lesser of (I) the Conversion Price relating
to the voided Conversion Notice and (II) the lowest closing sale price of the Common Shares during the period beginning on the Conversion
Date and ending on the date such Purchaser voided the Conversion Notice, subject to further adjustment as provided in this Agreement.
In addition to Purchaser’s other available remedies, the Company shall pay to Purchaser, in cash, as partial liquidated damages
and not as a penalty, for each $1,000 of shares of Common Shares (based on the aggregate Conversion Price of the Preferred Shares) for
which conversion had been requested, $10 per Trading Day for each Trading Day following the Share Delivery Deadline and increasing to
$20 per Trading Day after the fifth Trading Day until such shares of Common Shares are delivered and registered. Nothing herein shall
limit Purchaser’s right to pursue actual damages for the Company failure to timely deliver certificates representing Common Shares
as required hereby and Purchaser shall have the right to pursue all remedies available to it at law or in equity including, without limitation,
a decree of specific performance and/or injunctive relief. Further, in the event the Company refuses to honor any Conversion or makes
it known it will not honor any Conversion (the “Conversion Default Date”), the Purchaser will be entitled to damages
at the higher of: (i) actual provable damages; or (ii) an amount determined as the product of N*H, where N is the number of shares that
would have been issued upon conversion of the Preferred Shares held by the Purchaser on the Conversion Default Date and H is the average
closing price of the Common Shares during the time the Company fails or refuses to honor any Conversion until such time as the Purchaser
elects to void its Conversion Notice.

(v) Notwithstanding anything
to the contrary set forth in this Section 4.30, upon conversion of any Preferred Shares in accordance with the terms hereof, no Purchaser
thereof shall be required to physically surrender the certificate representing the Preferred Shares to the Company following conversion
thereof, unless (A) the full or remaining number of Preferred Shares