Company: NCEL
Filing Date: 2025-02-05
Form Type: F-3
Source: 0001213900-25-010223
Chunk: 13

Company: NewcelX Ltd.
Filing Date: 2025-02-05
Form: F-3
Chunk 13
---
.                       |

| ● | Kadimastem                                                                               
 will need to obtain FDA approval of any proposed names for its drug substances that gain 
 marketing approval/                                                                      |

| ● | International                                                                                  
 expansion of Kadimastem’s business exposes it to business, regulatory, political, operational, 
 financial and economic risks associated with doing business outside of the United States,      
 within Israel, the EU and Japan.                                                               |

<div align='center'>5</div>

| ● | Kadimastem’s                                                                                  
 market is subject to intense competition, which may result in others commercializing products 
 before or more successfully.                                                                  |

| ● | The                                                                                       
 operations and commercialization of stem cell therapies is a new and integral part of the 
 emerging regenerative medicine market, but the field remains in its infancy.              |

You should consider carefully the summary of risk factors described above and the full risks described under the caption “Item 3. Key Information - D. Risk Factors” in our annual report on Form 20-F for the year ended December 31, 2023, or the 2023 Annual Report, which is incorporated by reference in this prospectus, before deciding whether to invest in the Common Shares. Closings of Private Placement Financing Transaction On December 4, 2024, we entered into the December SPA, with a certain accredited investor, the Selling Shareholder. Pursuant to the terms of the December SPA, we agreed to issue and sell to the Selling Shareholder, in a private placement offering, up to 322,580 Common Shares at a purchase price of $3.10 per Common Share for aggregate gross proceeds of $1 million, subject to shareholder approval. The initial closing of the offering closed in the amount of $500,000, with the approval of certain items in NLS’s extraordinary general meeting on January 7, 2025, resulting in an issuance of 161,290 Common Shares to the Selling Shareholder. Pursuant to the terms of the December SPA, the Company agreed that on or before January 9, 2025, the Company would authorize and reserve sufficient Common Shares to satisfy the anti-dilution and ratchet rights of the Selling Shareholder under the October Debt SPA entered into on October 9, 2024, after giving effect to the conversion price reduction of the preferred shares as a result of the Dilutive Issuances (as defined in the October SPA) caused by the Company entering into the December SPA. On or before January 7,