Company: NCEL
Filing Date: 2025-02-10
Form Type: F-3
Source: 0001213900-25-011823
Chunk: 125

Company: NewcelX Ltd.
Filing Date: 2025-02-10
Form: F-3
Chunk 125
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 discounts and commissions under the Securities
Act. We will identify in the applicable prospectus supplement any underwriters, dealers or agents and will describe their compensation.
We may have agreements with the underwriters, dealers and agents to indemnify them against specified civil liabilities, including liabilities
under the Securities Act. Underwriters, dealers and agents may engage in transactions with or perform services for us in the ordinary
course of their businesses.

In connection with an offering, an underwriter
may purchase and sell securities in the open market. These transactions may include short sales, stabilizing transactions and purchases
to cover positions created by short sales. Short sales involve the sale by the underwriters of a greater number of securities than they
are required to purchase in the offering.

Accordingly, to cover these short sales positions
or to otherwise stabilize or maintain the price of the securities, the underwriters may bid for or purchase securities in the open market
and may impose penalty bids. If penalty bids are imposed, selling concessions allowed to syndicate members or other broker-dealers participating
in the offering are reclaimed if securities previously distributed in the offering are repurchased, whether in connection with stabilization
transactions or otherwise. The effect of these transactions may be to stabilize or maintain the market price of the securities at a level
above that which might otherwise prevail in the open market. The impositions of a penalty bid may also affect the price of the securities
to the extent that it discourages resale of the securities. The magnitude or effect of any stabilization or other transactions is uncertain.
These transactions may be effected on The Nasdaq Capital Market or otherwise and, if commenced, may be discontinued at any time.

<div align='center'>85

LEGAL MATTERS</div>

Certain
legal matters concerning this prospectus will be passed upon for us by Sullivan & Worcester LLP, New York, New York. Certain legal
matters with respect to the legality of the issuance of the securities offered by this prospectus will be passed upon for us by Baker
McKenzie Switzerland AG, Zurich, Switzerland.

<div align='center'>EXPERTS</div>

The
financial statements incorporated in this prospectus by reference to the Annual Report on Form 20-F for the year ended December 31, 2023
have been so incorporated in reliance on the report (which contains an explanatory paragraph relating to the Company’s ability to
continue as a going concern as described in Note 1 to the financial statements) of PricewaterhouseCoopers AG, an independent registered