Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 96

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 96
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 all the Offered Securities; |

| B. | Obtaining the approval of the general meeting of the Company’s shareholders; |

| C. | Amending the Company’s Articles of Association in such a way that the maximum number of directors                                         
 that serve on the Company’s Board of Directors will be reduced to only 6 directors and receiving letters of resignation from 2 directors; |

| D. | The Stock Exchange’s approval. |

On December 13, 2023, all the conditions
precedent for the completion of the investment transaction in the convertible loan with the Company’s shareholders were met.

Until December 21, 2023, the investors
transferred a total of USD $1,250 thousand (NIS 4,540 thousand), gross, and the issuance expenses totaled USD $55 thousand.

By April 4, 2024 (the “completion
date”), the investors transferred an additional amount of approximately USD $450 thousand (approximately NIS 1,692 thousand).

In accordance with the embedded derivative
measurement guidance, as set forth in IFRS 9, the embedded derivative must be separated from the primary contract by measuring the
fair value of the embedded derivative and attributing the remaining consideration to the primary contract. The embedded derivative component
must be measured every period at fair value and the changes are then attributed to profit or loss (hereinafter, “Fair Value Through
Profit or Loss”).

As a result, when the convertible loan
was initially recognized, the Company measured the fair value of the conversion right and attributed the remainder of the consideration
received for the total convertible loan to the loan component itself, which constitutes the primary contract, as noted above. This component
will be measured in subsequent periods at amortized cost (according to the effective interest method).

The issuance expenses totaled USD $55
thousand, of which USD $45 thousand are attributed to profit and loss, and USD $9 thousand were deducted from the amount received in respect
of the primary contract.

As part of the valuation project that
was carried out at the time of completion, the total net consideration received by the Company, USD $1,699 thousand, was first allocated
to the conversion component and a financial derivative in respect of the conversion mechanism, which constitutes a financial liability
that was measured initially and in subsequent reporting periods at fair value through profit or a loss, in accordance with the provisions
of IFRS 9, “- Financial Instruments.” The remaining amount was attributed to the debt