Company: NCEL
Filing Date: 2025-07-18
Form Type: F-4/A
Source: 0001213900-25-065783
Chunk: 801

Company: NewcelX Ltd.
Filing Date: 2025-07-18
Form: F-4/A
Chunk 801
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 “Company”) was incorporated in Israel on October 6, 2008, and began its business activities on August 27, 2009. On June 6, 2013, the Company completed a public offering of its shares on the Tel Aviv Stock Exchange (“TASE”). The Company’s offices are located in Ness Ziona, Israel. The Company is engaged in the development of drugs for the treatment of terminal muscular dystrophy (also known as ALS) and diabetes in the field of regenerative medicine. B.As of December 31, 2024, the Company’s capital deficiency, accumulated deficit, and negative working capital amounted to USD $7,996 thousand, USD $76,530 thousand, and USD $8,119 thousand, respectively. Additionally, for the year ended December 31, 2024, the Company incurred a loss of USD $7,178 thousand and had negative cash flows from operating activities amounting to USD $705 thousand. The Company’s ability to continue its operations depends on raising resources to finance its operations. The Company is involved in raising funds by arranging private placements to investors in Israel and abroad, raising funds on the TASE, and issuing rights to its current shareholders. At present, there is no certainty as to the Company’s ability to generate income or raise additional capital in the future, if at all. These factors raise substantial doubt regarding the Company’s ability to continue as a going concern. The financial statements do not include any adjustments regarding the carrying amounts of the assets and liabilities and their classification should the Company not continue to operate as a going concern. Such adjustment could be material. C. The effects of the Swords of Iron War: The “Swords of Iron” War (hereinafter, the “War”) broke out in the State of Israel in October 2023. The continued War has led to a slowdown in business activity in the Israeli economy due to, among other things, factories in the south and north of the country being closed, infrastructure damage, the recruitment of reserve personnel for an unknown period of time, and the disruption of economic activity in Israel. The War’s continuation may have far -reachingconsequences for many industries and different geographical areas of the country. The potential fluctuations in commodity prices, foreign exchange rates, availability of materials, availability of manpower, local services, and access to local resources may affect entities that mostly operate with or in Israel. Since this event is characterized by high uncertainty, and as of the date hereof, the duration and intensity of its