Company: NCEL
Filing Date: 2025-10-24
Form Type: POS AM
Source: 0001213900-25-102149
Chunk: 31

Company: NewcelX Ltd.
Filing Date: 2025-10-24
Form: POS AM
Chunk 31
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, in the future will be at the discretion of our board of directors and will depend on then-existing
conditions, including our financial condition, operating results, contractual restrictions, capital requirements, business prospects and
other factors our board of directors may deem relevant.

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

The following table sets
forth our cash and cash equivalents and our capitalization as of June 30, 2025:

| ● | On an actual basis; and                                          |
| ● | On                                                               
 a pro forma basis to give effect to the net proceeds to us from: |

| (i)  | The issuance of 4,732,705 common                                                                   
 shares pursuant to the Equity Line of Credit, resulting in aggregate net proceeds of approximately 
 $10.6 million. Pre-funded warrants 192,308;                                                        |
| (ii) | The issuance                                                                                       
 of 192,308 pre-funded warrants at an exercise price of CHF 0.03 (approximately $0.04) per          
 share, resulting in aggregate proceeds of approximately $7,000.                                    |

The
information in this table should be read in conjunction with and is qualified by reference
to the financial information thereto and other financial information incorporated by reference
into this prospectus, including the section entitled “Item 5. Operating and Financial
Review and Prospects” and our financial statements and related notes included in our
Annual Report on Form 20-F filed with the SEC on May 16, 2025 (the “2024 Annual Report”)
and our Unaudited Interim Condensed Financial Statements as of June 30, 2025 and “Management’s
Discussion and Analysis of Financial Condition and Results of Operations” attached
as Exhibits 99.1 and 99.2, respectively, to our Report of Foreign Private Issuer on Form
6-K, furnished on October 3, 2025 and incorporated by reference herein.

|                                                                                |     | As of         
 June 30, 2025 |             |   |     |           |             |   |
|:-------------------------------------------------------------------------------|:----|:--------------|------------:|:--|:----|:----------|------------:|:--|
| U.S. dollars in thousands                                                      |     | Actual        |             |   |     | Pro Forma |             |   |
| Cash and cash equivalents                                                      |     | $             |   1,665,395 |   |     | $         |