Company: NCEL
Filing Date: 2025-02-10
Form Type: F-3
Source: 0001213900-25-011823
Chunk: 118

Company: NewcelX Ltd.
Filing Date: 2025-02-10
Form: F-3
Chunk 118
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majority of the votes represented on the matter.

Liquidation Rights. Upon the liquidation, dissolution
or winding up of the Company, whether voluntary or involuntary, the holders of Common Shares, preferred shares and participation certificates
are entitled to receive the remaining property of the Company available after the payment of all debts and other liabilities pro rata
to their holding.

Preemptive, Subscription, Redemption and Conversion Rights.
Holders of Common Shares, as such, have preemptive rights when new Common Shares are issued and, if holders of preferred shares or, respectively,
of preferred participation certificates waive their preemptive rights, preemptive rights with regard to preferred shares or, respectively,
preferred participation certificates.

Dividends. Holders
of common shares are entitled to receive dividends as and when declared by the board of directors of the Company and approved by the
shareholders meeting, subject to the preference of the holders of the preferred shares and the preferred participation certificates of
the Company. The Company has so far not paid any dividends, The Company is entitled to pay dividends in any currency the shareholders
meeting approves. The declaration and payment of dividends and the amount of the dividends is subject to the discretion of the shareholders
meeting and the availability of freely distributable reserves.

Preferred Shares

On October 9, 2024, the Company entered into a securities
purchase agreement, or the Debt Purchase Agreement, with an accredited investor, pursuant to which in exchange for the satisfaction of
the Company’s debt in the aggregate amount of $4.0 million held by the investor, the Company agreed to issue 806,452 newly designated
convertible preferred shares, at a purchase price of $4.96 (rounded). The preferred shares contain a conversion price of $4.96 per share.
The transactions contemplated by the Debt Purchase Agreement closed on October 10, 2024. Pursuant to the Debt Purchase Agreement, the
Company agreed to grant the investor the right to purchase up to an additional $10.0 million worth of convertible preferred shares beginning
six months after the closing and continuing for as long as the investor owns preferred shares. Additionally, pursuant to the Debt Purchase
Agreement, the Company agreed to grant the investor the right to participate in up to fifty percent (50%) of future offerings of the Company’s
securities for one year following the closing. In addition, the Company agreed to not to enter into an equity line of credit or similar
agreement, without the consent of the majority of the holders of the