Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 127

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 127
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 of the Amendment to
March 2025 SPA, the investors agreed to purchase preferred participation certificates (“PPCs”) in lieu of Preferred Shares
with the same rights and privileges as the Preferred Shares. Pursuant to the terms of the Amendment to March 2025 SPA, the Company agreed
to issue 568,278 PPCs and 37,783 Preferred Shares, as well as warrants to purchase 393,939 Common Shares at an exercise price of $1.80
per share, for aggregate gross proceeds of $1 million. The second closing occurred on June 27, 2025.

In addition, on June 26,
2025, we and the Selling Shareholder entered into a side letter pursuant to which the Company agreed to issue the Selling Shareholder,
pre-funded warrants to purchase 485,000 Common Shares in lieu of our prior agreement, contained in the March 2025 SPA, to issue the Selling
Shareholder, 435,000 Preferred Shares (or their equivalent) to compensate it for certain price protection issuances and registration obligations.

The initial and second closings
of the March 2025 Offering resulted in aggregate gross proceeds to the Company of $3 million. The Company intends to use the net
proceeds from the March 2025 Offering for working capital and general corporate purposes, including for expenses relating to the Merger.

Further, on March 31,
2025, we entered into a purchase agreement with the Selling Shareholder, relating to a committed equity facility (the “ELOC Purchase
Agreement”). Pursuant to the ELOC Purchase Agreement, the Company has the right from time-to-time at its option to sell to the Selling
Shareholder, up to $25.0 million of the Common Shares, subject to certain conditions and limitations set forth therein.

<div align='center'>II-3</div>

Upon the initial satisfaction
of the conditions to the Selling Shareholder’s obligation to purchase Common Shares set forth in the ELOC Purchase Agreement (the
“Commencement”), including that a registration statement registering the resale by the Investor of the Common Shares under
the Securities Act that may be sold to it by us under the ELOC Purchase Agreement is declared effective and a final prospectus relating
thereto is filed with the SEC, the Company will have the right, but not the obligation, from time-to-time to its sole discretion until
the first day of the month next following the 36-month period from and after Commencement, to direct Selling Share