Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 63

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 63
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 limitation restricts Alpha from   
 exercising that portion of the NLS Preferred Shares, PPCs, and common warrants that would result in Alpha and its affiliates owning, 
 after exercise, a number of Common Shares in excess of the beneficial ownership limitation. As a result, the number of Common Shares 
 reflected in the table owned by Alpha includes (a) any outstanding Common Shares held by such shareholder, and (b) if any, the       
 number of NLS Preferred Shares and warrants convertible into Common Shares that the holder has the right to acquire within 60 days   
 of September 24, 2025 without such holder or any of such holder’s affiliates beneficially owning more than the beneficial            
 ownership limitation of 9.99%. The pre-funded warrants are subject to a beneficial ownership limitation of 4.99%. The address for    
 Alpha is Lettstrasse 32, Vaduz 9490, Liechtenstein. Nicola Feuerstein, a Director of Alpha, holds voting and dispositive power over  
 the securities held by Alpha.                                                                                                        |

<div align='center'>34

PLAN OF DISTRIBUTION</div>

On March 31, 2025, we entered
into the Purchase Agreement with the Selling Shareholder. The Purchase Agreement provides that, upon the terms and subject to the conditions
set forth therein, the Selling Shareholder is committed to purchase up to $25.0 million of our Common Shares over an approximately 36-month
commitment period. Of the Total Commitment, to date we have not sold any Common Shares (other than the Commitment Shares). From time-to-time,
and at our sole discretion, we may present the Selling Shareholder with advance notices to purchase our Common Shares. The shares would
be purchased pursuant to the Purchase Agreement at ninety-five percent (95%) of the lesser of the (i) lowest sale price on the applicable
date of the purchase of such Common Shares and (ii) VWAP, over the applicable VWAP Purchase Period on the applicable date of the purchase
of such Common Shares.

The Common Shares offered
by this prospectus are being offered by the Selling Shareholder, the Selling Shareholder. The Selling Shareholder is an “underwriter”
within the meaning of Section 2(a)(11) of the Securities Act. We have agreed in the Purchase Agreement to provide customary indemnification
to the Selling Shareholder.

It is possible that our shares
may be sold from time-to-time by the Selling Shareholder in one or more of the following manners