Company: NCEL
Filing Date: 2025-10-17
Form Type: POS AM
Source: 0001213900-25-099986
Chunk: 83

Company: NewcelX Ltd.
Filing Date: 2025-10-17
Form: POS AM
Chunk 83
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     |   Year ended 
 December 31, 
         2024 |
|:--------------------------------------------------------------------------------|:----|-----------------:|:--|:----|------:|:--|:----|-------------:|
|                                                                                 |     |        Unaudited |   |     |       |   |     |      Audited |
|                                                                                 |     | USD in thousands |   |     |       |   |     |              |
| Balance as of January 1                                                         |     |            5,061 |   |     | 1,002 |   |     |        1,002 |
| Initial recognition                                                             |     |                — |   |     |   368 |   |     |          368 |
| Conversion of loan                                                              |     |           (4,156 | ) |     |     — |   |     |            — |
| Revaluation expense (income) of financial derivative and the conversion feature |     |            9,957 |   |     |  (188 | ) |     |        3,639 |
| Revaluation recognized in Other Comprehensive Income                            |     |              801 |   |     |   (37 | ) |     |           52 |
| Balance as of June 30 (December 31)                                             |     |           11,663 |   |     | 1,145 |   |     |        5,061 |

D.During the reporting period, due to the extension of the repayment date of the loan provided by the Company’s shareholders until June 30, 2025, the loan amount was revalued at approximately $182 thousand which was recorded against capital reserve from transactions with controlling shareholders, before deducting an amount of $42 thousand in respect of a tax benefit. E.On January 30, 2025, the special general meeting of the shareholders of the Company approved the appointment of Mr. Ronen Twito as the chairman of the Board of Directors and the Chief Executive Officer of the merged company following the completion of the pending merger with NLS, as well as his updated terms of service, which shall become effective upon completion of the merger transaction. It was also approved to grant 157,995 Restricted Stock Units (RSUs), for no consideration, to Mr. Ronen Twito,

Annex B-10 KADIMASTEM LTD.
NOTES TO INTERIM FINANCIAL STATEMENTS which shall vest into the same number of ordinary shares in 24 equal monthly install