Company: NCEL
Filing Date: 2025-09-25
Form Type: F-1
Source: 0001213900-25-091697
Chunk: 94

Company: NewcelX Ltd.
Filing Date: 2025-09-25
Form: F-1
Chunk 94
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 conversion (hereinafter, the “Warrants,” and with the conversion shares, the “Offered Securities”). The exercise                             
 price of the Warrants will be equal to a rate of 110% of the conversion share price, and the Warrants’ exercise period will be 42            
 months from the date of their issuance. To the extent that the Company extends the payment date by the Extension Period, the Company will    
 issue warrants to the investors, which will reflect an amount of 50% of the shares that resulted from and/or that the investors would        
 be entitled to if they chose to convert the loan amount payable at the time of the notice of the Extension Period, under the same conditions 
 as the Warrants (hereinafter, the “Additional Warrants”). Notwithstanding the above regarding the issuance of the Additional                 
 Warrants, if the Company’s securities are listed on the Nasdaq Capital Market on or before the due date, or if the Company has a             
 pending application for listing on the Nasdaq Capital Market, the investors will not be entitled to the Additional Warrants.                 |

| 5. | Until the full repayment date of the Loan, the investors will be entitled to an anti-dilution mechanism                                      
 when the Loan is converted, to the extent that it is converted, upon the occurrence of a dilutive event (as defined in the convertible       
 loan agreement), and: (a) if the price per share (or the effective price per unit, as the case may be) in the dilutive event (hereinafter,   
 the “Effective Price”) reflects a discount of less than 10% of the last conversion price for the investors, and if there is                  
 no such price, then the conversion price that would have been obtained if the investors had converted immediately before the dilutive        
 event, and the total Shares that had been issued up to that time under all the dilutive events would be lower than 20% of the Company’s      
 issued and paid-up capital after the issuance of the Shares in the last dilutive event, the protection mechanism will be based on a weighted 
 average of the Company’s share capital before and after the dilutive event, as stipulated in the agreement; or (b) if the Effective          
 Price of the security to be issued in the event of a dilutive event reflects a discount of more than 10% of the relevant conversion price    
 for the investors, and if there is no such price, then the conversion price that would have been obtained if